GSAMP Trust 2006-FM1

Mortgage Pass-Through Certificates

May 25, 2006 Distribution

External Parties

Table of Contents

Page

Seller

Goldman Sachs Mortgage Securities

1. Certificate Payment Report

2. Collection Account Report

Servicer(s)

3. Credit Enhancement Report

Wells Fargo

4. Collateral Report

5. Delinquency Report

Underwriter(s)

6. REO Report

Goldman, Sachs & Co.

7. Foreclosure Report

8. Prepayment Report

Swap Counterparty

9. Prepayment Detail Report

Goldman Sachs Mitsui Marine

10. Realized Loss Report

11. Realized Loss Detail Report

12. Triggers and Adj. Cert. Report

13. Additional Certificate Report

14. Other Related Information

Total Number of Pages

Dates

Contacts

Cut-Off Date:

April 01, 2006

Eiko Akiyama

Close Date:

April 27, 2006

Administrator

First Distribution Date:

May 25, 2006

(714) 247-6328

Eiko.Akiyama@db.com

Address:

Distribution Date:

May 25, 2006

1761 East St. Andrew Place, Santa Ana, CA 92705

Record Date:

April 28, 2006

Factor Information:

(800) 735-7777

May 24, 2006

Main Phone Number:

(714) 247-6000

Determination Date:

May 18, 2006

https://www.tss.db.com/invr

Page 1 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates

May 25, 2006 Distribution

Certificate Payment Report
Current Period Distribution - REMIC IV
				Prior						Current
	Class		Original	Principal			Total	Realized	Deferred	Principal

Class	Type	Cur	Face Value	Balance	Interest	Principal	Distribution	Loss	Interest	Balance

				(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)

A-1	INT	$	241,822,000.00	241,822,000.00	968,514.84	4,272,954.31	5,241,469.15	0.00	0.00	237,549,045.69

A-2A	INT	$	251,717,000.00	251,717,000.00	988,567.06	8,728,616.49	9,717,183.55	0.00	0.00	242,988,383.51
A-2B	INT	$	110,996,000.00	110,996,000.00	440,230.61	0.00	440,230.61	0.00	0.00	110,996,000.00
A-2C	INT	$	102,592,000.00	102,592,000.00	410,888.48	0.00	410,888.48	0.00	0.00	102,592,000.00
A-2D	INT	$	43,211,000.00	43,211,000.00	176,760.16	0.00	176,760.16	0.00	0.00	43,211,000.00
M-1	INT	$	34,646,000.00	34,646,000.00	142,532.34	0.00	142,532.34	0.00	0.00	34,646,000.00
M-2	INT	$	30,849,000.00	30,849,000.00	127,391.49	0.00	127,391.49	0.00	0.00	30,849,000.00
M-3	INT	$	18,034,000.00	18,034,000.00	74,892.52	0.00	74,892.52	0.00	0.00	18,034,000.00
M-4	INT	$	16,611,000.00	16,611,000.00	70,016.58	0.00	70,016.58	0.00	0.00	16,611,000.00
M-5	INT	$	16,136,000.00	16,136,000.00	68,390.93	0.00	68,390.93	0.00	0.00	16,136,000.00
M-6	INT	$	14,713,000.00	14,713,000.00	63,160.72	0.00	63,160.72	0.00	0.00	14,713,000.00
M-7	INT	$	13,763,000.00	13,763,000.00	64,434.79	0.00	64,434.79	0.00	0.00	13,763,000.00
B-1	INT	$	12,340,000.00	12,340,000.00	58,924.40	0.00	58,924.40	0.00	0.00	12,340,000.00
B-2	INT	$	9,492,000.00	9,492,000.00	52,338.53	0.00	52,338.53	0.00	0.00	9,492,000.00
B-3	INT	$	8,543,000.00	8,543,000.00	49,763.60	0.00	49,763.60	0.00	0.00	8,543,000.00
B-4	INT	$	9,492,000.00	9,492,000.00	55,291.60	0.00	55,291.60	0.00	0.00	9,492,000.00
X	INT_EXE	$	14,237,750.56	14,237,750.56	2,218,901.69	0.00	2,218,901.69	0.00	173.70	14,237,924.26
C	INT_EXE	$	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
P	INT_EXE	$	0.00	0.00	107,038.31	0.00	107,038.31	0.00	0.00	0.00
R	RES_EXE	$	50.00	50.00	0.00	50.00	50.00	0.00	0.00	0.00
RC	RES_EXE	$	100.00	100.00	0.00	100.00	100.00	0.00	0.00	0.00
RX	RES_EXE	$	50.00	50.00	0.00	50.00	50.00	0.00	0.00	0.00


Total			949,194,950.56	949,194,950.56	6,138,038.65	13,001,770.80	19,139,809.45	0.00	173.70	936,193,353.46






Page 2 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates

May 25, 2006 Distribution


Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
								Orig. Principal		Prior							Current

	Period	Period						(with Notional)		Principal						Total	Principal
Class	Starting	Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

								(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)

A-1	04/27/06	05/24/06		A-Act/360		362334PF5		241,822,000.00		1,000.000000		4.005073		17.669833		21.674906	982.330167

A-2A	04/27/06	05/24/06		A-Act/360		362334PG3		251,717,000.00		1,000.000000		3.927296		34.676309		38.603605	965.323691
A-2B	04/27/06	05/24/06		A-Act/360		362334PH1		110,996,000.00		1,000.000000		3.966184		0.000000		3.966184	1,000.000000
A-2C	04/27/06	05/24/06		A-Act/360		362334PJ7		102,592,000.00		1,000.000000		4.005073		0.000000		4.005073	1,000.000000
A-2D	04/27/06	05/24/06		A-Act/360		362334PK4		43,211,000.00		1,000.000000		4.090629		0.000000		4.090629	1,000.000000
M-1	04/27/06	05/24/06		A-Act/360		362334PL2		34,646,000.00		1,000.000000		4.113962		0.000000		4.113962	1,000.000000
M-2	04/27/06	05/24/06		A-Act/360		362334PM0		30,849,000.00		1,000.000000		4.129518		0.000000		4.129518	1,000.000000
M-3	04/27/06	05/24/06		A-Act/360		362334PN8		18,034,000.00		1,000.000000		4.152851		0.000000		4.152851	1,000.000000
M-4	04/27/06	05/24/06		A-Act/360		362334PP3		16,611,000.00		1,000.000000		4.215073		0.000000		4.215073	1,000.000000
M-5	04/27/06	05/24/06		A-Act/360		362334PQ1		16,136,000.00		1,000.000000		4.238407		0.000000		4.238407	1,000.000000
M-6	04/27/06	05/24/06		A-Act/360		362334PR9		14,713,000.00		1,000.000000		4.292851		0.000000		4.292851	1,000.000000
M-7	04/27/06	05/24/06		A-Act/360		362334PS7		13,763,000.00		1,000.000000		4.681740		0.000000		4.681740	1,000.000000
B-1	04/27/06	05/24/06		A-Act/360		362334PT5		12,340,000.00		1,000.000000		4.775073		0.000000		4.775073	1,000.000000
B-2	04/27/06	05/24/06		A-Act/360		362334PU2		9,492,000.00		1,000.000000		5.513962		0.000000		5.513962	1,000.000000
B-3	04/27/06	05/24/06		A-Act/360		362334PV0		8,543,000.00		1,000.000000		5.825073		0.000000		5.825073	1,000.000000
B-4	04/27/06	05/24/06		A-Act/360		362334PW8		9,492,000.00		1,000.000000		5.825074		0.000000		5.825074	1,000.000000
X	04/01/06	04/30/06		A-30/360		362334QZ0		14,237,750.56		1,000.000000		155.846366		0.000000		155.846366	1,000.012200
C			362334QB3		0.00		0.000000		0.000000		0.000000		0.000000		0.000000
P			362334QA5		0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R			362334PX6		50.00		1,000.000000		0.000000		1,000.000000		1,000.000000		0.000000
RC			362334PY4		100.00		1,000.000000		0.000000		1,000.000000		1,000.000000		0.000000
RX			362334PZ1		50.00		1,000.000000		0.000000		1,000.000000		1,000.000000		0.000000




Page 3 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates

May 25, 2006 Distribution


Distribution to Date - REMIC IV
									Current


	Original		Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal

Class	Face Value	Interest	Principal	Principal	Principal	Distribution	Loss	Interest	Balance
	(1)	(2)	(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	241,822,000.00	968,514.84	4,136,236.47	136,717.84	4,272,954.31	5,241,469.15	0.00	0.00	237,549,045.69
A-2A	251,717,000.00	988,567.06	8,449,334.88	279,281.62	8,728,616.49	9,717,183.55	0.00	0.00	242,988,383.51
A-2B	110,996,000.00	440,230.61	0.00	0.00	0.00	440,230.61	0.00	0.00	110,996,000.00
A-2C	102,592,000.00	410,888.48	0.00	0.00	0.00	410,888.48	0.00	0.00	102,592,000.00
A-2D	43,211,000.00	176,760.16	0.00	0.00	0.00	176,760.16	0.00	0.00	43,211,000.00
M-1	34,646,000.00	142,532.34	0.00	0.00	0.00	142,532.34	0.00	0.00	34,646,000.00
M-2	30,849,000.00	127,391.49	0.00	0.00	0.00	127,391.49	0.00	0.00	30,849,000.00
M-3	18,034,000.00	74,892.52	0.00	0.00	0.00	74,892.52	0.00	0.00	18,034,000.00
M-4	16,611,000.00	70,016.58	0.00	0.00	0.00	70,016.58	0.00	0.00	16,611,000.00
M-5	16,136,000.00	68,390.93	0.00	0.00	0.00	68,390.93	0.00	0.00	16,136,000.00
M-6	14,713,000.00	63,160.72	0.00	0.00	0.00	63,160.72	0.00	0.00	14,713,000.00
M-7	13,763,000.00	64,434.79	0.00	0.00	0.00	64,434.79	0.00	0.00	13,763,000.00
B-1	12,340,000.00	58,924.40	0.00	0.00	0.00	58,924.40	0.00	0.00	12,340,000.00
B-2	9,492,000.00	52,338.53	0.00	0.00	0.00	52,338.53	0.00	0.00	9,492,000.00
B-3	8,543,000.00	49,763.60	0.00	0.00	0.00	49,763.60	0.00	0.00	8,543,000.00
B-4	9,492,000.00	55,291.60	0.00	0.00	0.00	55,291.60	0.00	0.00	9,492,000.00
X	14,237,750.56	2,218,901.69	(168.14)	(5.56)	0.00	2,218,901.69	0.00	173.70	14,237,924.26
C	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
P	0.00	107,038.31	0.00	0.00	0.00	107,038.31	0.00	0.00	0.00
R	50.00	0.00	48.40	1.60	50.00	50.00	0.00	0.00	0.00
RC	100.00	0.00	96.80	3.20	100.00	100.00	0.00	0.00	0.00
RX	50.00	0.00	48.40	1.60	50.00	50.00	0.00	0.00	0.00

Total	949,194,950.56	6,138,038.65	12,585,596.81	416,000.30	13,001,770.80	19,139,809.45	0.00	173.70	936,193,353.46




Page 4 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates

May 25, 2006 Distribution


Interest Detail - REMIC IV
	Pass	Prior Principal		Non-	Prior	Unscheduled		Paid or	Current


	Through	(with Notional)	Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid

Class	Rate	Balance	Interest	Interest SF	Interest	Adjustment	Interest	Interest	Interest
			(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	5.14938%	241,822,000.00	968,514.84	0.00	0.00	0.00	968,514.84	968,514.84	0.00
A-2A	5.04938%	251,717,000.00	988,567.06	0.00	0.00	0.00	988,567.06	988,567.06	0.00
A-2B	5.09938%	110,996,000.00	440,230.61	0.00	0.00	0.00	440,230.61	440,230.61	0.00
A-2C	5.14938%	102,592,000.00	410,888.48	0.00	0.00	0.00	410,888.48	410,888.48	0.00
A-2D	5.25938%	43,211,000.00	176,760.16	0.00	0.00	0.00	176,760.16	176,760.16	0.00
M-1	5.28938%	34,646,000.00	142,532.34	0.00	0.00	0.00	142,532.34	142,532.34	0.00
M-2	5.30938%	30,849,000.00	127,391.49	0.00	0.00	0.00	127,391.49	127,391.49	0.00
M-3	5.33938%	18,034,000.00	74,892.52	0.00	0.00	0.00	74,892.52	74,892.52	0.00
M-4	5.41938%	16,611,000.00	70,016.58	0.00	0.00	0.00	70,016.58	70,016.58	0.00
M-5	5.44938%	16,136,000.00	68,390.93	0.00	0.00	0.00	68,390.93	68,390.93	0.00
M-6	5.51938%	14,713,000.00	63,160.72	0.00	0.00	0.00	63,160.72	63,160.72	0.00
M-7	6.01938%	13,763,000.00	64,434.79	0.00	0.00	0.00	64,434.79	64,434.79	0.00
B-1	6.13938%	12,340,000.00	58,924.40	0.00	0.00	0.00	58,924.40	58,924.40	0.00
B-2	7.08938%	9,492,000.00	52,338.53	0.00	0.00	0.00	52,338.53	52,338.53	0.00
B-3	7.48938%	8,543,000.00	49,763.60	0.00	0.00	0.00	49,763.60	49,763.60	0.00
B-4	7.48938%	9,492,000.00	55,291.60	0.00	0.00	0.00	55,291.60	55,291.60	0.00
X	187.03028%	14,237,750.56	0.00	52,125.07	0.00	0.00	-52,125.07	2,219,075.39	0.00
C	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
P	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	107,038.31	0.00
R	0.00000%	50.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RC	0.00000%	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RX	0.00000%	50.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00


Total		949,194,950.56	3,812,098.65	52,125.07	0.00	0.00	3,759,973.58	6,138,212.35	0.00



Page 5 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution

Collection Account Report
SUMMARY

	Group 2	Group 1	Total
Principal Collections	8,728,699.88	4,272,897.23	13,001,597.11
Principal Withdrawals	0.00	0.00	0.00
Principal Other Accounts	0.00	0.00	0.00
TOTAL NET PRINCIPAL	8,728,699.88	4,272,897.23	13,001,597.11
Interest Collections	4,232,618.07	2,043,373.94	6,275,992.01
Interest Withdrawals	-0.00	-0.00	-0.00
Interest Fees	-36,834.08	-18,944.96	-55,779.04
Interest Other Accounts	5,097,698.00	2,436,404.36	(82,000.62)
TOTAL NET INTEREST	9,293,481.99	4,460,833.34	6,138,212.35
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION	18,022,181.87	8,733,730.57	19,139,809.46




PRINCIPAL - COLLECTIONS

	Group 2	Group 1	Total
Scheduled Principal Received	259,251.77	156,748.53	416,000.30
Curtailments	5,397.52	5,067.59	10,465.11
Prepayments In Full	8,464,050.59	4,111,081.11	12,575,131.70
Repurchased/Substitutions	0.00	0.00	0.00
Liquidations	0.00	0.00	0.00
Insurance Principal	0.00	0.00	0.00
Other Additional Principal	0.00	0.00	0.00
Delinquent Principal	-228,433.30	-137,983.83	-366,417.13
Realized Losses	-0.00	-0.00	-0.00
Advanced Principal	228,433.30	137,983.83	366,417.13
TOTAL PRINCIPAL COLLECTED	8,728,699.88	4,272,897.23	13,001,597.11




PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK




PRINCIPAL - OTHER ACCOUNTS

	Group 2	Group 1	Total
TOTAL PRINCIPAL OTHER ACCOUNTS	0.00	0.00	0.00






Page 6 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution


INTEREST - COLLECTIONS

	Group 2	Group 1	Total
Scheduled Interest	4,503,954.13	2,168,011.44	6,671,965.57
Repurchased/Substitution Interest	0.00	0.00	0.00
Liquidation Interest	0.00	0.00	0.00
Insurance Interest	0.00	0.00	0.00
Other Additional Interest	0.00	0.00	0.00
Prepayment Interest Shortfalls	-39,116.11	-13,008.96	-52,125.07
Delinquent Interest	-3,940,271.06	-1,874,601.67	-5,814,872.73
Compensating Interest	0.00	0.00	0.00
Civil Relief Act Shortfalls	-0.00	-0.00	-0.00
Interest Realized Loss	0.00	0.00	0.00
Interest Advanced	3,708,051.11	1,762,973.12	5,471,024.23
TOTAL INTEREST COLLECTED	4,232,618.07	2,043,373.94	6,275,992.01




INTEREST - WITHDRAWALS

	Group 2	Group 1	Total
Non Recoverable Advances	0.00	0.00	0.00
Extraordinary Trust Fund Expenses	0.00	0.00	0.00
TOTAL INTEREST WITHDRAWALS	0.00	0.00	0.00




INTEREST - OTHER ACCOUNTS

	Group 2	Group 1	Total
Prepayment Charges	97,140.71	9,897.60	107,038.31

Net Swap Payment	(127,277.75)	(61,761.18)	(189,038.93)
. a) Swap Payment	2,563,917.52	1,244,133.97	3,808,051.49
. b) Counterparty Payment	2,436,639.77	1,182,372.79	3,619,012.56
. c) Swap Termination Payment	0.00	0.00	0.00
. d) Defaulted Swap Termination Payment	0.00	0.00	0.00


TOTAL INTEREST OTHER ACCOUNTS	5,097,698.00	2,436,404.36	(82,000.62)



INTEREST - FEES

	Group 2	Group 1	Total
Current Servicing Fees	34,171.35	17,652.71	51,824.06
Trustee Fees	2,662.74	1,292.24	3,954.98
TOTAL INTEREST FEES	36,834.08	18,944.96	55,779.04



Page 7 of 28

GSAMP Trust 2006-FM1

Mortgage Pass-Through Certificates

May 25, 2006 Distribution

Credit Enhancement Report

ACCOUNTS

Excess Reserve Fund

Begining Balance

0.00

Amount Deposited

0.00

Amount Withdrawn

0.00

Ending Balance

0.00

Supplemental Interest Account

Begining Balance

0.00

Amount Deposited

3,619,012.56

Amount Withdrawn

3,808,051.49

Net SWAP Amount

(189,038.93)

Ending Balance

0.00

INSURANCE

SPACE INTENTIONALLY LEFT BLANK

STRUCTURAL FEATURES

Group 2

Group 1

Total

Overcollateralized Amount - Prior Period

14,237,750.56

Current Period Principal Realized Losses

0.00

Overcollateralized Amt-After Current Losses

14,237,750.56

Net Monthly Excess Cashflow

2,218,901.69

Extra Principal Distribution Amount

173.70

Overcollateralization Reduction Amount

0.00

Overcollateralized Amt - Ending

14,237,924.26

Overcollateralization Deficiency Amount

0.00

Overcollateralization Excess Amount

0.00

Specified Overcollateralization Amount

14,237,924.26

Page 8 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution

Collateral Report


COLLATERAL




		Group 2		Group 1		Total



Loan Count:


Original	2,730		1,691		4,421
Prior	2,730		1,691		4,421
Prefunding	0		0		0
Scheduled Paid Offs	-0		-0		-0
Full Voluntary Prepayments	-36		-21		-57
Repurchases	-0		-0		-0
Liquidations	-0		-0		-0
Current	2,694		1,670		4,364
Principal Balance:


Original	639,056,978.24		310,137,972.32		949,194,950.56
Prior	639,056,978.24		310,137,972.32		949,194,950.56
Prefunding	0.00		0.00		0.00
Scheduled Principal	-259,251.77		-156,748.53		-416,000.30
Partial Prepayments	-5,397.52		-5,067.59		-10,465.11
Full Voluntary Prepayments	-8,464,050.59		-4,111,081.11		-12,575,131.70
Repurchases	-0.00		-0.00		-0.00
Liquidations	-0.00		-0.00		-0.00
Current	630,328,278.36		305,865,075.09		936,193,353.45





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK

Page 9 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution


CHARACTERISTICS
CHARACTERISTICS

	Group 2	Group 1	Total
Weighted Average Coupon Original	8.45343%	8.38480%	8.43101%
Weighted Average Coupon Prior	8.45343%	8.38480%	8.43101%
Weighted Average Coupon Current	8.45343%	8.38480%	8.43101%
Weighted Average Months to Maturity Original	356	356	356
Weighted Average Months to Maturity Prior	356	356	356
Weighted Average Months to Maturity Current	356	356	356
Weighted Avg Remaining Amortization Term Original	396	393	395
Weighted Avg Remaining Amortization Term Prior	396	393	395
Weighted Avg Remaining Amortization Term Current	396	393	395
Weighted Average Seasoning Original	3.22	3.20	3.22
Weighted Average Seasoning Prior	3.22	3.20	3.22
Weighted Average Seasoning Current	3.22	3.20	3.22

Page 10 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution


ARM CHARACTERISTICS
ARM CHARACTERISTICS

				Group 2		Group 1		Total
	Weighted Average Margin Original			5.83706%		5.82213%		5.83240%
	Weighted Average Margin Prior			5.83706%		5.82213%		5.83240%
	Weighted Average Margin Current			5.83706%		5.82213%		5.83240%
	Weighted Average Max Rate Original			14.28094%		14.28761%		14.28302%
	Weighted Average Max Rate Prior			14.28094%		14.28761%		14.28302%
	Weighted Average Max Rate Current			14.28094%		14.28761%		14.28302%
	Weighted Average Min Rate Original			8.28094%		8.28577%		8.28245%
	Weighted Average Min Rate Prior			8.28094%		8.28577%		8.28245%
	Weighted Average Min Rate Current			8.28094%		8.28577%		8.28245%
	Weighted Average Cap Up Original			1.49907%		1.49981%		1.49930%
	Weighted Average Cap Up Prior			1.49907%		1.49981%		1.49930%
	Weighted Average Cap Up Current			1.49907%		1.49981%		1.49930%
	Weighted Average Cap Down Original			1.49907%		1.49981%		1.49930%
	Weighted Average Cap Down Prior			1.49907%		1.49981%		1.49930%
	Weighted Average Cap Down Current			1.49907%		1.49981%		1.49930%




SERVICING FEES & ADVANCES
SERVICING FEES & ADVANCES

				Group 2		Group 1		Total




Current Servicing Fees			34,171.35		17,652.71		51,824.06
Delinquent Servicing Fees			232,219.95		111,628.54		343,848.49
TOTAL SERVICING FEES			266,391.30		129,281.26		395,672.56


Total Servicing Fees			266,391.30		129,281.26		395,672.56
Compensating Interest			-0.00		-0.00		-0.00
Delinquent Servicing Fees			-232,219.95		-111,628.54		-343,848.49
COLLECTED SERVICING FEES			34,171.35		17,652.71		51,824.06


Total Advanced Interest			3,708,051.11		1,762,973.12		5,471,024.23
Total Advanced Principal			228,433.30		137,983.83		366,417.13
Aggregate Advances with respect to this Distribution			3,936,484.41		1,900,956.95		5,837,441.36
Unrecovered Advances			0.00		0.00		0.00
Non Recoverable Advance			0.00		0.00		0.00
Servicer Escrow Advances			0.00		0.00		0.00





ADDITIONAL COLLATERAL INFORMATION
ADDITIONAL COLLATERAL INFORMATION
					Group 2		Group 1		Total
		Prepayment Interest Shortfall (PPIS)			39,116.11		13,008.96		52,125.07
		Compensating Interest			0.00		0.00		0.00
		Net Prepayment Interest Shortfall (PPIS)			39,116.11		13,008.96		52,125.07


		Ending Pool Stated Principal Balance			630,328,278.36		305,865,075.09		936,193,353.45





Page 11 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates

May 25, 2006 Distribution

Delinquency Report


TOTAL	0-30	31-60	61-90	91-120	121-150	151-180	181-210	211-240

DELINQUENT Balance % Balance # Loans % # Loans
		21,563,171.38	419,520.88	0.00	0.00	0.00	0.00	0.00	0.00	21,982,692.26
		2.30%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.35%
		91	1	0	0	0	0	0	0	92
		2.09%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.11%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
REO Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	0.00	21,563,171.38	419,520.88	0.00	0.00	0.00	0.00	0.00	0.00	21,982,692.26
	0.00%	2.30%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.35%
	0	91	1	0	0	0	0	0	0	92
	0.00%	2.09%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.11%

Page 12 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates

May 25, 2006 Distribution



GROUP 1	0-30	31-60	61-90	91-120	121-150	151-180	181-210	211-240

DELINQUENT Balance % Balance # Loans % # Loans
		3,756,977.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3,756,977.01
		1.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.23%
		21	0	0	0	0	0	0	0	21
		1.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.26%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
REO Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	0.00	3,756,977.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3,756,977.01
	0.00%	1.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.23%
	0	21	0	0	0	0	0	0	0	21
	0.00%	1.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.26%

Page 13 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates

May 25, 2006 Distribution



GROUP 2	0-30	31-60	61-90	91-120	121-150	151-180	181-210	211-240

DELINQUENT Balance % Balance # Loans % # Loans
		17,806,194.37	419,520.88	0.00	0.00	0.00	0.00	0.00	0.00	18,225,715.25
		2.82%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.89%
		70	1	0	0	0	0	0	0	71
		2.60%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.64%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
REO Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	0.00	17,806,194.37	419,520.88	0.00	0.00	0.00	0.00	0.00	0.00	18,225,715.25
	0.00%	2.82%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.89%
	0	70	1	0	0	0	0	0	0	71
	0.00%	2.60%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.64%

Page 14 of 28

GSAMP Trust 2006-FM1

Mortgage Pass-Through Certificates

May 25, 2006 Distribution

REO Report

Loan Number

Original

Stated

Current

State &

First

Principal

Paid to

Note

LTV at

Original

Payment

Loan Group

Balance

Date

Rate

Origination

Term

Date

Page 15 of 28

GSAMP Trust 2006-FM1

Mortgage Pass-Through Certificates

May 25, 2006 Distribution

Foreclosure Report

Loan Number

Original

Stated

Current

State &

First

Principal

Paid to

Note

LTV at

Original

Payment

Loan Group

Balance

Date

Rate

Origination

Term

Date

Page 16 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution

Prepayment Report

VOLUNTARY PREPAYMENTS



		Group 2		Group 1		Total


Current


Number of Paid in Full Loans	36		21		57
Number of Repurchased Loans	0		0		0
Total Number of Loans Prepaid in Full	36		21		57
Curtailments Amount	5,397.52		5,067.59		10,465.11
Paid in Full Balance	8,464,050.59		4,111,081.11		12,575,131.70
Repurchased Loans Balance	0.00		0.00		0.00
Total Prepayment Amount	8,469,448.11		4,116,148.70		12,585,596.81
Cumulative


Number of Paid in Full Loans	36		21		57
Number of Repurchased Loans	0		0		0
Total Number of Loans Prepaid in Full	36		21		57
Paid in Full Balance	8,464,050.59		4,111,081.11		12,575,131.70
Repurchased Loans Balance	0.00		0.00		0.00
Curtailments Amount	5,397.52		5,067.59		10,465.11
Total Prepayment Amount	8,469,448.11		4,116,148.70		12,585,596.81

Page 17 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution


VOLUNTARY PREPAYMENTS RATES



		Group 2		Group 1		Total





SMM	1.33%		1.33%		1.33%
3 Months Avg SMM	1.33%		1.33%		1.33%
12 Months Avg SMM	1.33%		1.33%		1.33%
Avg SMM Since Cut-off	1.33%		1.33%		1.33%



CPR	14.80%		14.82%		14.81%
3 Months Avg CPR	14.80%		14.82%		14.81%
12 Months Avg CPR	14.80%		14.82%		14.81%
Avg CPR Since Cut-off	14.80%		14.82%		14.81%



PSA	2,294.90%		2,318.36%		2,302.52%
3 Months Avg PSA Approximation	2,294.90%		2,318.36%		2,302.52%
12 Months Avg PSA Approximation	2,294.90%		2,318.36%		2,302.52%
Avg PSA Since Cut-off Approximation	2,294.90%		2,318.36%		2,302.52%

Page 18 of 28

GSAMP Trust 2006-FM1

Mortgage Pass-Through Certificates

May 25, 2006 Distribution

PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidation Balance)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)

PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))

Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)*(1-SMMn+1)*...*(1-SMMm)]^(1/months in period n,m)

Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)

Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))

Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m)

Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.

Dates correspond to distribution dates.

Page 19 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates

May 25, 2006 Distribution

Prepayment Detail Report

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution


Loan Number		Original			Current	State &		Type Prepayment		First

&	Loan	Principal	Prepayment	Prepayment		Note	LTV at		&		Payment
Loan Group	Status	Balance	Amount	Date		Rate	Origination		Original Term		Date

1000290164 1		150,000.00	149,667.89	28-Apr-2006		8.990%		ME - 80.00%		Paid Off - 360		01-Jan-2006

1000297523 2		153,000.00	152,739.42	03-Apr-2006		8.850%		VA - 90.00%		Paid Off - 360		01-Feb-2006
1000302978 1		120,000.00	119,843.26	24-Apr-2006		8.150%		NJ - 50.00%		Paid Off - 360		01-Mar-2006
1000304145 2		445,500.00	444,715.54	12-Apr-2006		6.650%		NY - 90.00%		Paid Off - 360		01-Mar-2006
1000305489 1		261,800.00	261,669.88	19-Apr-2006		8.500%		CA - 77.00%		Paid Off - 360		01-Mar-2006
1000306087 2		495,000.00	494,764.58	11-Apr-2006		8.650%		CA - 90.00%		Paid Off - 360		01-Mar-2006
1000306206 1		392,000.00	391,774.01	05-Apr-2006		7.990%		CA - 70.63%		Paid Off - 360		01-Mar-2006
1000307066 2		589,260.00	588,645.38	07-Apr-2006		9.240%		MD - 100.00%		Paid Off - 360		01-Mar-2006
1000307270 1		272,000.00	271,665.85	17-Apr-2006		8.450%		AZ - 87.74%		Paid Off - 360		01-Mar-2006
1000307684 2		361,800.00	361,562.12	13-Apr-2006		8.100%		CA - 90.00%		Paid Off - 360		01-Apr-2006
1000307943 2		20,100.00	20,061.64	17-Apr-2006		12.500%		CA - 5.00%		Paid Off - 180		01-Apr-2006
1000307951 2		380,000.00	379,861.73	13-Apr-2006		9.550%		CA - 100.00%		Paid Off - 360		01-Mar-2006
3000006825 2		209,300.00	209,243.83	04-Apr-2006		10.550%		CA - 70.00%		Paid Off - 360		01-Mar-2006
5000184161 2		143,000.00	143,000.00	20-Apr-2006		8.900%		IL - 92.26%		Paid Off - 360		01-Jan-2006
5000191420 1		312,000.00	311,716.84	05-Apr-2006		9.900%		IL - 80.00%		Paid Off - 360		01-Mar-2006
5000191768 1		75,000.00	74,868.33	27-Apr-2006		8.750%		IL - 24.92%		Paid Off - 360		01-Feb-2006
5000191861 1		75,200.00	75,063.77	18-Apr-2006		8.550%		IL - 80.00%		Paid Off - 360		01-Feb-2006
5000191909 2		18,800.00	18,682.16	18-Apr-2006		11.650%		IL - 20.00%		Paid Off - 180		01-Feb-2006
5000193662 2		191,250.00	190,959.50	03-Apr-2006		9.400%		IL - 85.00%		Paid Off - 360		01-Feb-2006
5000194613 2		277,600.00	277,298.75	11-Apr-2006		9.050%		MA - 80.00%		Paid Off - 360		01-Mar-2006
5000194634 1		69,400.00	69,341.53	11-Apr-2006		10.250%		MA - 20.00%		Paid Off - 360		01-Mar-2006
5000194929 2		314,102.00	313,720.07	05-Apr-2006		8.500%		FL - 90.00%		Paid Off - 360		01-Mar-2006
5000194951 2		17,451.00	17,388.38	05-Apr-2006		13.200%		FL - 5.00%		Paid Off - 180		01-Mar-2006
5000197790 2		198,370.00	198,190.57	10-Apr-2006		7.500%		TN - 80.00%		Paid Off - 360		01-Mar-2006
5000197941 2		49,592.00	49,562.83	12-Apr-2006		11.900%		TN - 20.00%		Paid Off - 360		01-Mar-2006
5000197942 2		240,000.00	240,000.00	18-Apr-2006		8.100%		MD - 80.00%		Paid Off - 360		01-Mar-2006
5000198065 2		180,480.00	180,280.02	04-Apr-2006		8.950%		TX - 80.00%		Paid Off - 360		01-Mar-2006
5000198083 1		45,120.00	45,084.54	06-Apr-2006		10.575%		TX - 20.00%		Paid Off - 360		01-Mar-2006
5000198174 2		60,000.00	59,962.08	18-Apr-2006		11.575%		MD - 20.00%		Paid Off - 360		01-Mar-2006
5000198741 2		540,000.00	539,636.93	11-Apr-2006		7.990%		NY - 80.00%		Paid Off - 360		01-Apr-2006
5000198882 2		135,000.00	134,961.29	11-Apr-2006		11.990%		NY - 20.00%		Paid Off - 360		01-Apr-2006
5000198938 1		382,500.00	382,303.94	25-Apr-2006		8.500%		MD - 90.00%		Paid Off - 360		01-Mar-2006
6000186132 1		132,000.00	132,000.00	28-Apr-2006		7.550%		GA - 80.00%		Paid Off - 360		01-Dec-2005
6000199527 1		328,950.00	328,791.25	05-Apr-2006		8.600%		NJ - 85.00%		Paid Off - 360		01-Mar-2006
6000200701 2		155,000.00	154,872.86	18-Apr-2006		12.250%		NJ - 62.00%		Paid Off - 360		01-Feb-2006
6000204810 2		222,400.00	222,158.65	05-Apr-2006		9.050%		FL - 80.00%		Paid Off - 360		01-Mar-2006
6000204894 2		55,600.00	55,566.39	04-Apr-2006		11.775%		FL - 20.00%		Paid Off - 360		01-Mar-2006
6000205154 2		36,500.00	36,477.93	13-Apr-2006		11.775%		FL - 20.00%		Paid Off - 360		01-Mar-2006
6000205463 1		178,000.00	177,793.76	27-Apr-2006		8.750%		NJ - 72.65%		Paid Off - 360		01-Mar-2006
6000206864 1		292,500.00	292,307.69	19-Apr-2006		8.100%		ME - 90.00%		Paid Off - 360		01-Apr-2006


Page 20 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates

May 25, 2006 Distribution


Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution


Loan Number		Original			Current	State &		Type Prepayment		First

&	Loan	Principal	Prepayment	Prepayment		Note	LTV at		&		Payment
Loan Group	Status	Balance	Amount	Date		Rate	Origination		Original Term		Date

6000207979 2		527,512.00	526,877.15	03-Apr-2006		8.550%		MD - 80.00%		Paid Off - 360		01-Mar-2006

6000208036 2		131,878.00	131,784.03	03-Apr-2006		11.025%		MD - 20.00%		Paid Off - 360		01-Mar-2006
6000208320 2		224,000.00	223,716.25	13-Apr-2006		8.300%		MD - 80.00%		Paid Off - 360		01-Mar-2006
6000208336 2		56,000.00	55,957.85	17-Apr-2006		10.775%		MD - 20.00%		Paid Off - 360		01-Mar-2006
7000177701 1		200,000.00	199,504.31	26-Apr-2006		6.990%		NY - 47.06%		Paid Off - 360		01-Feb-2006
7000184398 2		375,200.00	374,812.73	26-Apr-2006		9.290%		CA - 80.00%		Paid Off - 360		01-Mar-2006
7000184479 2		337,160.00	336,786.41	05-Apr-2006		8.950%		GA - 80.00%		Paid Off - 360		01-Mar-2006
7000184581 1		84,290.00	84,223.79	05-Apr-2006		10.575%		GA - 20.00%		Paid Off - 360		01-Mar-2006
7000184853 2		188,000.00	187,780.63	11-Apr-2006		8.700%		HI - 80.00%		Paid Off - 360		01-Mar-2006
7000186524 1		300,000.00	299,638.96	20-Apr-2006		8.550%		CA - 65.22%		Paid Off - 360		01-Mar-2006
8000074713 2		280,000.00	279,629.23	23-Apr-2006		10.050%		VA - 100.00%		Paid Off - 360		01-Feb-2006
8000076459 2		228,000.00	227,767.60	13-Apr-2006		9.350%		NJ - 80.00%		Paid Off - 360		01-Mar-2006
8000076964 1		182,400.00	182,175.93	10-Apr-2006		8.450%		RI - 80.00%		Paid Off - 360		01-Mar-2006
8000077070 1		112,000.00	111,821.21	27-Apr-2006		7.150%		CT - 80.00%		Paid Off - 360		01-Mar-2006
8000077108 2		28,000.00	27,980.05	27-Apr-2006		11.025%		CT - 20.00%		Paid Off - 360		01-Mar-2006
8000077398 2		607,000.00	606,646.01	17-Apr-2006		7.950%		NY - 89.93%		Paid Off - 360		01-Mar-2006
8000078101 1		150,000.00	149,824.37	28-Apr-2006		8.700%		NY - 18.40%		Paid Off - 360		01-Mar-2006


TOTAL		12,587,015.00	12,575,131.70

Page 21 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution

Realized Loss Report

COLLATERAL REALIZED LOSSES



		Group 2		Group 1		Total


Current





Subsequent Recoveries	0.00		0.00		0.00
Number of Loans Liquidated	0		0		0
Collateral Principal Realized Loss/(Gain) Amount	0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount	0.00		0.00		0.00
Net Liquidation Proceeds	0.00		0.00		0.00
Cumulative
Cumulative



Number of Loans Liquidated	0		0		0
Collateral Realized Loss/(Gain) Amount	0.00		0.00		0.00
Net Liquidation Proceeds	0.00		0.00		0.00
Cumulative Subsequent Recoveries	0.00		0.00		0.00

Page 22 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution


DEFAULT SPEEDS

	Group 2	Group 1	Total



MDR	0.00%	0.00%	0.00%
3 Months Avg MDR	0.00%	0.00%	0.00%
12 Months Avg MDR	0.00%	0.00%	0.00%
Avg MDR Since Cut-off	0.00%	0.00%	0.00%


CDR	0.00%	0.00%	0.00%
3 Months Avg CDR	0.00%	0.00%	0.00%
12 Months Avg CDR	0.00%	0.00%	0.00%
Avg CDR Since Cut-off	0.00%	0.00%	0.00%


SDA	0.00%	0.00%	0.00%
3 Months Avg SDA Approximation	0.00%	0.00%	0.00%
12 Months Avg SDA Approximation	0.00%	0.00%	0.00%
Avg SDA Since Cut-off Approximation	0.00%	0.00%	0.00%


Loss Severity Approximation for Current Period	0.00%	0.00%	0.00%
3 Months Avg Loss Severity Approximation	0.00%	0.00%	0.00%
12 Months Avg Loss Severity Approximation	0.00%	0.00%	0.00%
Avg Loss Severity Approximation Since Cut-off	0.00%	0.00%	0.00%

Page 23 of 28

GSAMP Trust 2006-FM1

Mortgage Pass-Through Certificates

May 25, 2006 Distribution

COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY

Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)

Conditional Default Rate (CDR): 1-((1-MDR)^12)

SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))

Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)*(1-MDRn+1)*...*(1-MDRm)]^(1/months in period n,m)

Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

Average SDA Approximation over period between the nth month and mth month:

AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))

Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)

Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.

Dates correspond to distribution dates.

Page 24 of 28

GSAMP Trust 2006-FM1

Mortgage Pass-Through Certificates

May 25, 2006 Distribution

Realized Loss Detail Report

Loan Number

Current

State &

Prior

Realized

Cumulative

Loan

Note

LTV at

Original

Principal

Loss/(Gain)

Realized

Loan Group

Status

Rate

Origination

Term

Balance

Revision

Loss/(Gain)

TOTAL

Page 25 of 28

GSAMP Trust 2006-FM1

Mortgage Pass-Through Certificates

May 25, 2006 Distribution

Triggers and Adj. Cert. Report

TRIGGER EVENTS

Group 2

Group 1

Total

Stepdown Date Occurred?

Credit Enhancement Percentage (For Stepdown Date)

21.2410%

Applicable % (On and After Stepdown Date)

41.9000%

Trigger Event In Effect?

Delinquency Percentage

0.0448%

Prior Credit Enhancement Percentage

20.9501%

Applicable %

37.0000%

Applicable % of prior Credit Enhancement Percentage

7.7515%

Cumulative Realized Losses

0.00

Stated Principal Balance as of Cutoff Date

949,194,950.56

Realized Loss Percentage

0.0000%

Servicer Termination Test?

Swap Provider Trigger Event?

ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK

ADDITIONAL INFORMATION

Group 2

Group 1

Total

Current LIBOR Rate

4.989380%

Libor Rate Determination Date

04/25/2006

Next LIBOR Rate

5.081250%

Next Libor Rate Determination Date

05/23/2006

Current Swap LIBOR Rate

4.989380%

Pool Factor

98.630250%

Page 26 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution

Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

		NET WAC Shortfall Prior (1)	Curr NET WAC SF (2)	Total NET WAC SF (1+2)	Net Wac Paid from Cap	NET WAC Shortfall Paid	NET WAC Shortfall UnPaid
CLASS

	A-1	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	A-2A	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	A-2B	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	A-2C	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	A-2D	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-1	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-2	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-3	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-4	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-5	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-6	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-7	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	B-1	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	B-2	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	B-3	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	B-4	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	X	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	P	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	R	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
		$0.00	$0.00	$0.00	$0.00	$0.00	$0.00




Page 27 of 28

GSAMP Trust 2006-FM1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2006 Distribution

Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
	Group 2	Group 1	Total
Current Scheduled Payments	4,763,205.91	2,324,759.97	7,087,965.88
Current Scheduled Payments 1 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 2 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 3 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 4 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 5 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 6 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 7 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 8 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 9 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 10 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 11 Month Prior	0.00	0.00	0.00





Sched. Payments for 60+Day Delinquent Loans	2,936.08	0.00	2,936.08
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior	0.00	0.00	0.00





Page 28 of 28

GSAMP Trust 2006-FM1 10-D