EQUIFIRST LOAN SECURITIZATION TRUST 2007-1

Mortgage Pass-Through Certificates

September 25, 2007 Distribution

External Parties

Table of Contents

Page

Servicer(s)

1. Certificate Payment Report

Barclays Capital Real Estate Inc. d/b/a HomEq Servicing

2. Collection Account Report

3. Credit Enhancement Report

4. Collateral Report

Underwriter(s)

5. Delinquency Report

Barclays Capital Inc.

6. REO Report

7. Foreclosure Report

Swap Counterparty

8. Prepayment Report

Barclays Bank PLC.

9. Prepayment Detail Report

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:

June 01, 2007

Diana Nguyen

Close Date:

June 27, 2007

Administrator

First Distribution Date:

July 25, 2007

(714) 247-6321

Diana.Nguyen@DB.COM

Address:

Distribution Date:

September 25, 2007

1761 East St. Andrew Place, Santa Ana, CA 92705-4934

Record Date:

August 31, 2007

Factor Information:

(800) 735-7777

September 24, 2007

Main Phone Number:

(714) 247-6000

Determination Date:

September 14, 2007

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

Page 1 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution

Certificate Payment Report
Current Period Distribution - REMIC III
			Prior						Current
			Prior

	Class	Original	Principal			Total	Realized	Deferred	Principal

Class	Type	Face Value	Balance	Interest	Principal	Distribution	Loss	Interest	Balance
			(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	SR	302,312,000.00	292,541,025.62	1,337,359.42	2,970,904.06	4,308,263.48	0.00	0.00	289,570,121.56
A-1	SR	302,312,000.00	292,541,025.62	1,337,359.42	2,970,904.06	4,308,263.48	0.00	0.00	289,570,121.56
A-2A	SR	249,946,000.00	237,492,956.28	1,064,661.13	4,153,784.85	5,218,445.98	0.00	0.00	233,339,171.43
A-2B	SR	140,050,000.00	140,050,000.00	642,498.83	0.00	642,498.83	0.00	0.00	140,050,000.00
A-2C	SR	11,846,000.00	11,846,000.00	55,013.15	0.00	55,013.15	0.00	0.00	11,846,000.00
M-1	MEZ,FLT	57,903,000.00	57,903,000.00	269,836.02	0.00	269,836.02	0.00	0.00	57,903,000.00
M-2	MEZ,FLT	45,635,000.00	45,635,000.00	213,033.05	0.00	213,033.05	0.00	0.00	45,635,000.00
M-3	MEZ,FLT	15,212,000.00	15,212,000.00	71,135.12	0.00	71,135.12	0.00	0.00	15,212,000.00
M-4	MEZ,FLT	21,591,000.00	21,591,000.00	102,878.12	0.00	102,878.12	0.00	0.00	21,591,000.00
M-5	MEZ,FLT	16,193,000.00	16,193,000.00	78,461.83	0.00	78,461.83	0.00	0.00	16,193,000.00
M-6	MEZ,FLT	11,286,000.00	11,286,000.00	56,867.33	0.00	56,867.33	0.00	0.00	11,286,000.00
B-1	SUB,FLT	20,119,000.00	20,119,000.00	117,581.58	0.00	117,581.58	0.00	0.00	20,119,000.00
B-2	SUB,FLT	13,740,000.00	13,740,000.00	88,602.01	0.00	88,602.01	0.00	0.00	13,740,000.00
B-3	SUB,FLT	18,644,000.00	18,644,000.00	120,225.32	0.00	120,225.32	0.00	0.00	18,644,000.00
X	INT_EXE	56,921,941.96	56,921,138.63	1,802,018.63	0.00	1,802,018.63	0.00	0.00	56,921,138.63
P	INT_EXE	0.00	0.00	45,874.38	0.00	45,874.38	0.00	0.00	0.00
R-I	INT_EXE	0.00	0.00	23,905.26	0.00	23,905.26	0.00	0.00	0.00
R-II	INT_EXE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Total		981,398,941.96	959,174,120.53	6,089,951.18	7,124,688.91	13,214,640.09	0.00	0.00	952,049,431.62
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face Value
					Orig. Principal	Prior				Current
					Orig. Principal	Prior				Current
	Period	Period			(with Notional)	Principal			Total	Principal
Class	Starting	Ending	Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
			Method
					(1)	(1)	(2)	(3)	(4)=(2)+(3)	(5)

A-1	08/27/07	09/24/07	A-Act/360	29445UAN5	302,312,000.00	967.679171	4.423772	9.827278	14.251050	957.851893
A-1	08/27/07	09/24/07	A-Act/360	29445UAN5	302,312,000.00	967.679171	4.423772	9.827278	14.251050	957.851893
A-2A	08/27/07	09/24/07	A-Act/360	29445UAA3	249,946,000.00	950.177063	4.259565	16.618729	20.878294	933.558334
A-2B	08/27/07	09/24/07	A-Act/360	29445UAB1	140,050,000.00	1,000.000000	4.587639	0.000000	4.587639	1,000.000000
A-2C	08/27/07	09/24/07	A-Act/360	29445UAC9	11,846,000.00	1,000.000000	4.644028	0.000000	4.644028	1,000.000000
M-1	08/27/07	09/24/07	A-Act/360	29445UAD7	57,903,000.00	1,000.000000	4.660139	0.000000	4.660139	1,000.000000
M-2	08/27/07	09/24/07	A-Act/360	29445UAE5	45,635,000.00	1,000.000000	4.668194	0.000000	4.668194	1,000.000000
M-3	08/27/07	09/24/07	A-Act/360	29445UAF2	15,212,000.00	1,000.000000	4.676250	0.000000	4.676250	1,000.000000
M-4	08/27/07	09/24/07	A-Act/360	29445UAG0	21,591,000.00	1,000.000000	4.764861	0.000000	4.764861	1,000.000000
M-5	08/27/07	09/24/07	A-Act/360	29445UAH8	16,193,000.00	1,000.000000	4.845417	0.000000	4.845417	1,000.000000
M-6	08/27/07	09/24/07	A-Act/360	29445UAJ4	11,286,000.00	1,000.000000	5.038750	0.000000	5.038750	1,000.000000
B-1	08/27/07	09/24/07	A-Act/360	29445UAK1	20,119,000.00	1,000.000000	5.844305	0.000000	5.844305	1,000.000000
B-2	08/27/07	09/24/07	A-Act/360	29445UAL9	13,740,000.00	1,000.000000	6.448472	0.000000	6.448472	1,000.000000
B-3	08/27/07	09/24/07	A-Act/360	29445UAM7	18,644,000.00	1,000.000000	6.448472	0.000000	6.448472	1,000.000000
X	08/27/07	09/24/07	A-Act/360	BC07E100X	1,038,320,883.92	54.820373	1.735512	0.000000	1.735512	54.820373
P	08/25/07	09/24/07	A-30/360	BC07E100P	0.00	0.000000	0.000000	0.000000	0.000000	0.000000
R-I	08/25/07	09/24/07	F-30/360	BC07E1001	0.00	0.000000	0.000000	0.000000	0.000000	0.000000
R-II	08/25/07	09/24/07	F-30/360	BC07E1002	0.00	0.000000	0.000000	0.000000	0.000000	0.000000



Page 2 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution


Distribution to Date - REMIC III
									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	302,312,000.00	4,122,636.00	12,231,211.66	510,666.78	12,741,878.44	16,864,514.44	0.00	0.00	289,570,121.56
A-2A	249,946,000.00	3,301,345.11	15,966,073.48	640,755.09	16,606,828.57	19,908,173.68	0.00	0.00	233,339,171.43
A-2B	140,050,000.00	1,950,060.10	0.00	0.00	0.00	1,950,060.10	0.00	0.00	140,050,000.00
A-2C	11,846,000.00	167,017.08	0.00	0.00	0.00	167,017.08	0.00	0.00	11,846,000.00
M-1	57,903,000.00	819,271.15	0.00	0.00	0.00	819,271.15	0.00	0.00	57,903,000.00
M-2	45,635,000.00	646,831.76	0.00	0.00	0.00	646,831.76	0.00	0.00	45,635,000.00
M-3	15,212,000.00	215,995.61	0.00	0.00	0.00	215,995.61	0.00	0.00	15,212,000.00
M-4	21,591,000.00	312,508.74	0.00	0.00	0.00	312,508.74	0.00	0.00	21,591,000.00
M-5	16,193,000.00	238,426.18	0.00	0.00	0.00	238,426.18	0.00	0.00	16,193,000.00
M-6	11,286,000.00	172,946.98	0.00	0.00	0.00	172,946.98	0.00	0.00	11,286,000.00
B-1	20,119,000.00	358,601.62	0.00	0.00	0.00	358,601.62	0.00	0.00	20,119,000.00
B-2	13,740,000.00	270,664.64	0.00	0.00	0.00	270,664.64	0.00	0.00	13,740,000.00
B-3	18,644,000.00	367,268.67	0.00	0.00	0.00	367,268.67	0.00	0.00	18,644,000.00
X	56,921,941.96	5,757,951.22	781.04	22.29	803.33	5,758,754.55	0.00	0.00	56,921,138.63
P	0.00	227,989.30	0.00	0.00	0.00	227,989.30	0.00	0.00	0.00
R-I	0.00	38,150.59	0.00	0.00	0.00	38,150.59	0.00	0.00	0.00
R-II	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00


Total	981,398,941.96	18,967,664.75	28,198,066.18	1,151,444.16	29,349,510.34	48,317,175.09	0.00	0.00	952,049,431.62


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

	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	5.67500%	292,541,025.62	1,337,359.42	0.00	0.00	0.00	1,337,359.42	1,337,359.42	0.00
A-2A	5.56500%	237,492,956.28	1,064,661.13	0.00	0.00	0.00	1,064,661.13	1,064,661.13	0.00
A-2B	5.69500%	140,050,000.00	642,498.83	0.00	0.00	0.00	642,498.83	642,498.83	0.00
A-2C	5.76500%	11,846,000.00	55,013.15	0.00	0.00	0.00	55,013.15	55,013.15	0.00
M-1	5.78500%	57,903,000.00	269,836.02	0.00	0.00	0.00	269,836.02	269,836.02	0.00
M-2	5.79500%	45,635,000.00	213,033.05	0.00	0.00	0.00	213,033.05	213,033.05	0.00
M-3	5.80500%	15,212,000.00	71,135.12	0.00	0.00	0.00	71,135.12	71,135.12	0.00
M-4	5.91500%	21,591,000.00	102,878.12	0.00	0.00	0.00	102,878.12	102,878.12	0.00
M-5	6.01500%	16,193,000.00	78,461.83	0.00	0.00	0.00	78,461.83	78,461.83	0.00
M-6	6.25500%	11,286,000.00	56,867.33	0.00	0.00	0.00	56,867.33	56,867.33	0.00
B-1	7.25500%	20,119,000.00	117,581.58	0.00	0.00	0.00	117,581.58	117,581.58	0.00
B-2	8.00500%	13,740,000.00	88,602.01	0.00	0.00	0.00	88,602.01	88,602.01	0.00
B-3	8.00500%	18,644,000.00	120,225.32	0.00	0.00	0.00	120,225.32	120,225.32	0.00
X	39.29979%	56,921,138.63	0.00	0.00	0.00	0.00	0.00	1,802,018.63	0.00
P	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	45,874.38	0.00
R-I	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	23,905.26	0.00
R-II	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Total		959,174,120.53	4,218,152.91	0.00	0.00	0.00	4,218,152.91	6,089,951.18	0.00



Page 3 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution

Collection Account Report
SUMMARY

	Group 2	Group 1	Total
Principal Collections	4,147,203.76	2,966,197.08	7,113,400.84
Principal Withdrawals	0.00	0.00	0.00
Principal Other Accounts		0.00	0.00
TOTAL NET PRINCIPAL	4,147,203.76	2,966,197.08	7,113,400.84
Interest Collections	3,514,551.22	2,678,514.78	6,193,066.00
Interest Withdrawals	-0.00	-0.00	-0.00
Interest Fees	-36,223.31	-29,100.08	-66,653.05
Interest Other Accounts	34,481.42	11,392.96	(25,173.69)
TOTAL NET INTEREST	3,512,809.33	2,660,807.66	6,101,239.25
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION	7,660,013.09	5,627,004.74	13,214,640.09




PRINCIPAL - COLLECTIONS

	Group 2	Group 1	Total
Scheduled Principal Received	206,567.94	176,829.47	383,397.41
Curtailments	109,974.76	12,412.79	122,387.55
Prepayments In Full	3,830,661.06	2,582,437.77	6,413,098.83
Repurchased/Substitutions	0.00	0.00	0.00
Liquidations	0.00	205,805.11	205,805.11
Insurance Principal	0.00	0.00	0.00
Other Additional Principal	0.00	0.00	0.00
Delinquent Principal	-170,116.10	-143,221.21	-313,337.31
Realized Losses	-0.00	-11,288.06	-11,288.06
Advanced Principal	170,116.10	143,221.21	313,337.31
TOTAL PRINCIPAL COLLECTED	4,147,203.76	2,966,197.08	7,113,400.84




PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK




PRINCIPAL - OTHER ACCOUNTS

	Group 2	Group 1	Total
TOTAL PRINCIPAL OTHER ACCOUNTS		0.00	0.00






Page 4 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution


INTEREST - COLLECTIONS

	Group 2	Group 1	Total
Scheduled Interest	3,714,712.37	2,821,257.42	6,535,969.79
Repurchased/Substitution Interest	0.00	0.00	0.00
Liquidation Interest	0.00	1,277.71	1,277.71
Insurance Interest	0.00	0.00	0.00
Other Additional Interest	0.00	0.00	0.00
Prepayment Interest Shortfalls	-4,146.73	-2,798.64	-6,945.37
Delinquent Interest	-3,148,040.46	-2,353,366.54	-5,501,407.00
Compensating Interest	4,146.73	2,798.64	6,945.37
Civil Relief Act Shortfalls	-0.00	-0.00	-0.00
Interest Realized Loss	-0.00	-0.00	-0.00
Interest Advanced	2,947,879.30	2,209,346.20	5,157,225.50
TOTAL INTEREST COLLECTED	3,514,551.22	2,678,514.78	6,193,066.00




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
INTEREST - OTHER ACCOUNTS
	Group 2	Group 1	Total
Prepayment Charges	34,481.42	11,392.96	45,874.38
Net Swap			(94,953.33)

. a) Swap Payment			4,027,203.66
. b) Swap Receipt			3,932,250.33
. c) Swap Termination Payment			8.25
. d) Defaulted Swap Termination Payment			0.00

Float Earnings			23,905.26
TOTAL INTEREST OTHER ACCOUNTS	34,481.42	11,392.96	(25,173.69)




INTEREST FEES
INTEREST FEES
	Group 2	Group 1	Total
Current Servicing Fees	36,223.31	29,100.08	65,323.39
Trustee/Custodian Fees	0.00	0.00	1,329.66
TOTAL INTEREST FEES	36,223.31	29,100.08	66,653.05



Page 5 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1

Mortgage Pass-Through Certificates

September 25, 2007 Distribution

Credit Enhancement Report

ACCOUNTS

Excess Reserve Fund

Beginning Balance

0.00

Amount Deposited

0.00

Amount Withdrawn

0.00

Ending Balance

0.00

Supplemental Float Trust

Beginning Balance

0.00

Amount Deposited

23,905.26

Amount Withdrawn

23,905.26

Ending Balance

0.00

Supplemental Interest Trust

Beginning Balance

0.00

Amount Deposited

3,932,250.33

Amount Withdrawn

4,027,203.66

Net SWAP Amount

(94,953.33)

Ending Balance

0.00

INSURANCE

SPACE INTENTIONALLY LEFT BLANK

STRUCTURAL FEATURES

Group 2

Group 1

Total

Subordinated Amount - Prior Period

56,921,138.63

Current Period Principal Realized Losses

11,288.06

Subordinated Amount - After Current Losses

56,921,138.63

Extra Principal Distribution Amount

11,288.06

Subordination Reduction Amount

0.00

Subordinated Amount - Ending

56,921,138.63

Subordination Deficiency Amount

0.00

Subordination Excess Amount

0.00

Specified Subordinated Amount

56,921,138.63

Net Monthly Excess Cashflow

1,802,018.63

Net Monthly Excess Cashflow Allocated to :

0.00

. a) Unpaid Interest Amounts

0.00

. b) Applied Realized Loss Amounts

11,288.06

. c) Basis Risk Carryforward Amounts

0.00

Page 6 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution

Collateral Report


COLLATERAL




		Group 2	Group 1	Total



Loan Count:


Original	2,732	2,951	5,683
Prior	2,674	2,899	5,573
Prefunding	0	0	0
Scheduled Paid Offs	-0	-0	-0
Full Voluntary Prepayments	-19	-20	-39
Repurchases	-0	-0	-0
Liquidations	-0	-1	-1
Current	2,655	2,878	5,533
Principal Balance:


Original	560,058,291.62	421,340,650.34	981,398,941.96
Prior	547,604,755.59	411,569,364.94	959,174,120.53
Prefunding	0.00	0.00	0.00
Scheduled Principal	-206,567.94	-176,829.47	-383,397.41
Partial Prepayments	-109,974.76	-12,412.79	-122,387.55
Full Voluntary Prepayments	-3,830,661.06	-2,582,437.77	-6,413,098.83
Repurchases	-0.00	-0.00	-0.00
Liquidations	-0.00	-205,805.11	-205,805.11
Current	543,457,551.83	408,591,879.80	952,049,431.63





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK

Page 7 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution


CHARACTERISTICS
CHARACTERISTICS

	Group 2	Group 1	Total
Weighted Average Coupon Original	8.14342%	8.23153%	8.18125%
Weighted Average Coupon Prior	8.14399%	8.23181%	8.18175%
Weighted Average Coupon Current	8.14028%	8.22958%	8.17860%
Weighted Average Months to Maturity Original	354	354	354
Weighted Average Months to Maturity Prior	353	353	353
Weighted Average Months to Maturity Current	352	352	352
Weighted Avg Remaining Amortization Term Original	457	447	453
Weighted Avg Remaining Amortization Term Prior	456	446	452
Weighted Avg Remaining Amortization Term Current	455	445	451
Weighted Average Seasoning Original	4.83	4.75	4.80
Weighted Average Seasoning Prior	5.83	5.75	5.80
Weighted Average Seasoning Current	6.83	6.75	6.80

Page 8 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution


ARM CHARACTERISTICS
ARM CHARACTERISTICS

	Group 2	Group 1	Total
Weighted Average Margin Original	5.27159%	5.70603%	5.45544%
Weighted Average Margin Prior	5.27545%	5.70541%	5.45793%
Weighted Average Margin Current	5.27000%	5.70389%	5.45350%
Weighted Average Max Rate Original	13.98803%	14.13204%	14.04897%
Weighted Average Max Rate Prior	13.98799%	14.13070%	14.04855%
Weighted Average Max Rate Current	13.98360%	14.12768%	14.04454%
Weighted Average Min Rate Original	7.98740%	8.13204%	8.04861%
Weighted Average Min Rate Prior	7.98734%	8.13070%	8.04818%
Weighted Average Min Rate Current	7.98295%	8.12768%	8.04416%
Weighted Average Cap Up Original	1.00000%	1.00000%	1.00000%
Weighted Average Cap Up Prior	1.00000%	1.00000%	1.00000%
Weighted Average Cap Up Current	1.00000%	1.00000%	1.00000%
Weighted Average Cap Down Original	1.00000%	1.00000%	1.00000%
Weighted Average Cap Down Prior	1.00000%	1.00000%	1.00000%
Weighted Average Cap Down Current	1.00000%	1.00000%	1.00000%




SERVICING FEES & ADVANCES
SERVICING FEES & ADVANCES

	Group 2	Group 1	Total




Current Servicing Fees	36,223.31	29,100.08	65,323.39
Delinquent Servicing Fees	191,622.51	142,306.61	333,929.12
TOTAL SERVICING FEES	227,777.12	171,406.82	399,183.94


Total Servicing Fees	227,777.12	171,406.82	399,183.94
Compensating Interest	-4,146.73	-2,798.64	-6,945.37
Delinquent Servicing Fees	-191,622.51	-142,306.61	-333,929.12
COLLECTED SERVICING FEES	32,007.87	26,301.57	58,309.44


Total Advanced Interest	2,947,879.30	2,209,346.20	5,157,225.50
Total Advanced Principal	170,116.10	143,221.21	313,337.31
Aggregate P&I Advances with respect to this Distribution	3,117,995.40	2,352,567.42	5,470,562.81
Non Recoverable Advance	0.00	0.00	0.00





ADDITIONAL COLLATERAL INFORMATION
ADDITIONAL COLLATERAL INFORMATION
	Group 2	Group 1	Total
Prepayment Interest Shortfall (PPIS)	4,146.73	2,798.64	6,945.37
Compensating Interest	(4,146.73)	(2,798.64)	(6,945.37)
Net Prepayment Interest Shortfall (PPIS)	0.00	0.00	0.00


Pool Factor			0.9700940000%
Subsequent Recoveries			0.00





Page 9 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution

Delinquency Report


TOTAL	<31 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	TOTAL
	<31 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
		28,306,888.86	12,521,961.73	6,988,964.42	355,578.11	48,173,393.12
		2.97%	1.32%	0.73%	0.04%	5.06%
		158	62	34	1	255
		2.86%	1.12%	0.61%	0.02%	4.61%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	1,397,470.78	3,651,616.02	463,545.94	5,512,632.74
	0.00%	0.00%	0.15%	0.38%	0.05%	0.58%
	0	0	6	16	2	24
	0.00%	0.00%	0.11%	0.29%	0.04%	0.43%
BANKRUPTCY Balance % Balance # Loans % # Loans
	953,596.24	728,242.98	267,490.10	93,733.52	0.00	2,043,062.84
	0.10%	0.08%	0.03%	0.01%	0.00%	0.21%
	11	3	1	1	0	16
	0.20%	0.05%	0.02%	0.02%	0.00%	0.29%
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	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	953,596.24	29,035,131.84	14,186,922.61	10,734,313.96	819,124.05	55,729,088.70
	0.10%	3.05%	1.49%	1.13%	0.09%	5.85%
	11	161	69	51	3	295
	0.20%	2.91%	1.25%	0.92%	0.05%	5.33%

Page 10 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution



GROUP 1	<31 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	TOTAL
	<31 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
		10,442,053.49	3,535,338.98	1,847,111.61	0.00	15,824,504.08
		2.56%	0.87%	0.45%	0.00%	3.87%
		68	26	13	0	107
		2.36%	0.90%	0.45%	0.00%	3.72%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	207,803.29	602,583.12	0.00	810,386.41
	0.00%	0.00%	0.05%	0.15%	0.00%	0.20%
	0	0	2	6	0	8
	0.00%	0.00%	0.07%	0.21%	0.00%	0.28%
BANKRUPTCY Balance % Balance # Loans % # Loans
	376,192.30	119,050.82	0.00	0.00	0.00	495,243.12
	0.09%	0.03%	0.00%	0.00%	0.00%	0.12%
	4	1	0	0	0	5
	0.14%	0.03%	0.00%	0.00%	0.00%	0.17%
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	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	376,192.30	10,561,104.31	3,743,142.27	2,449,694.73	0.00	17,130,133.61
	0.09%	2.58%	0.92%	0.60%	0.00%	4.19%
	4	69	28	19	0	120
	0.14%	2.40%	0.97%	0.66%	0.00%	4.17%

Page 11 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution



GROUP 2	<31 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	TOTAL
	<31 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
		17,864,835.37	8,986,622.75	5,141,852.81	355,578.11	32,348,889.04
		3.29%	1.65%	0.95%	0.07%	5.95%
		90	36	21	1	148
		3.39%	1.36%	0.79%	0.04%	5.57%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	1,189,667.49	3,049,032.90	463,545.94	4,702,246.33
	0.00%	0.00%	0.22%	0.56%	0.09%	0.87%
	0	0	4	10	2	16
	0.00%	0.00%	0.15%	0.38%	0.08%	0.60%
BANKRUPTCY Balance % Balance # Loans % # Loans
	577,403.94	609,192.16	267,490.10	93,733.52	0.00	1,547,819.72
	0.11%	0.11%	0.05%	0.02%	0.00%	0.28%
	7	2	1	1	0	11
	0.26%	0.08%	0.04%	0.04%	0.00%	0.41%
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	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	577,403.94	18,474,027.53	10,443,780.34	8,284,619.23	819,124.05	38,598,955.09
	0.11%	3.40%	1.92%	1.52%	0.15%	7.10%
	7	92	41	32	3	175
	0.26%	3.47%	1.54%	1.21%	0.11%	6.59%

Page 12 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1

Mortgage Pass-Through Certificates

September 25, 2007 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 13 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution

Foreclosure Report
Loan Number	Original	Stated		Current	State &		First
Loan Number	Original	Stated		Current	State &		First
&	Principal	Principal	Paid to	Note	LTV at	Original	Payment
Loan Group	Balance	Balance	Date	Rate	Origination	Term	Date
					Origination

Became Foreclosure Property this Period:
326415007 2	121,500.00	120,905.52	01-Apr-2007	10.000%	SC - 90.00%	360	01-Dec-2006
326415718 2	295,000.00	293,363.54	01-Apr-2007	9.090%	CA - 100.00%	360	01-Dec-2006
326419918 1	115,000.00	114,966.72	01-May-2007	10.900%	VA - 100.00%	360	01-Mar-2007
326425584 2	750,000.00	746,022.00	01-May-2007	7.490%	CA - 84.27%	360	01-Mar-2007
326425717 1	108,000.00	107,638.57	01-Apr-2007	8.990%	VA - 94.74%	360	01-Apr-2007
326427341 2	154,700.00	154,604.71	01-Apr-2007	8.990%	GA - 85.00%	360	01-Mar-2007
326430758 1	179,200.00	179,005.28	01-Apr-2007	7.500%	AZ - 80.00%	360	01-Mar-2007
326433968 2	130,000.00	129,776.40	01-May-2007	8.600%	FL - 66.33%	360	01-Mar-2007
326434909 1	90,000.00	89,535.90	01-Apr-2007	7.950%	MN - 90.00%	360	01-Mar-2007
326442878 1	93,150.00	92,836.57	01-May-2007	9.725%	IL - 90.00%	360	01-Mar-2007
326447406 2	325,600.00	324,067.94	01-Apr-2007	7.300%	IL - 80.00%	360	01-Apr-2007
326447422 2	304,000.00	302,611.27	01-Apr-2007	7.450%	IL - 80.00%	360	01-Apr-2007
326448636 1	112,800.00	112,460.40	01-Apr-2007	9.500%	GA - 80.00%	360	01-Apr-2007
326454774 2	528,000.00	527,407.62	01-Apr-2007	6.990%	CA - 80.00%	360	01-Apr-2007
326455367 2	85,500.00	85,280.21	01-May-2007	10.250%	OH - 90.00%	360	01-Apr-2007
326458171 2	196,000.00	195,884.66	01-Apr-2007	8.700%	CA - 80.00%	360	01-Apr-2007
326459039 2	432,500.00	432,305.38	01-Apr-2007	9.390%	CA - 89.18%	360	01-Apr-2007
326459054 2	364,000.00	363,692.27	01-Apr-2007	7.750%	AZ - 80.00%	360	01-Apr-2007
326461340 2	304,000.00	303,791.38	01-Mar-2007	8.300%	NV - 80.00%	360	01-Apr-2007
326461712 2	334,190.00	334,189.99	01-Apr-2007	8.000%	FL - 80.00%	360	01-Apr-2007
326462876 2	228,740.00	228,588.88	01-May-2007	8.400%	NV - 75.00%	360	01-Apr-2007
326463015 1	71,400.00	71,035.73	01-Apr-2007	9.850%	TN - 85.00%	360	01-Apr-2007
326470192 1	43,000.00	42,907.24	01-Apr-2007	11.800%	SC - 100.00%	360	01-Mar-2007


TOTAL	5,366,280.00	5,352,878.18

Became Foreclosure Property in a Prior Period:
326431525 2	160,000.00	159,754.56	01-Feb-2007	8.990%	MD - 80.00%	360	01-Mar-2007


TOTAL	160,000.00	159,754.56


TOTAL	5,526,280.00	5,512,632.74
TOTAL


Page 14 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution

Prepayment Report

VOLUNTARY PREPAYMENTS



		Group 2	Group 1	Total


Current


Number of Paid in Full Loans	19	20	39
Number of Repurchased Loans	0	0	0
Total Number of Loans Prepaid in Full	19	20	39
Curtailments Amount	109,974.76	12,412.79	122,387.55
Paid in Full Balance	3,830,661.06	2,582,437.77	6,413,098.83
Repurchased Loans Balance	0.00	0.00	0.00
Total Prepayment Amount	3,940,635.82	2,594,850.56	6,535,486.38
Cumulative


Number of Paid in Full Loans	77	72	149
Number of Repurchased Loans	0	0	0
Total Number of Loans Prepaid in Full	77	72	149
Paid in Full Balance	15,806,160.77	11,944,089.85	27,750,250.62
Repurchased Loans Balance	0.00	0.00	0.00
Curtailments Amount	173,798.83	68,211.61	242,010.44
Total Prepayment Amount	15,979,959.60	12,012,301.46	27,992,261.06

Page 15 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution


VOLUNTARY PREPAYMENTS RATES



		Group 2	Group 1	Total





SMM	0.72%	0.68%	0.70%
3 Months Avg SMM	0.96%	0.98%	0.97%
12 Months Avg SMM	0.96%	0.98%	0.97%
Avg SMM Since Cut-off	0.96%	0.98%	0.97%



CPR	8.30%	7.87%	8.12%
3 Months Avg CPR	10.94%	11.11%	11.01%
12 Months Avg CPR	10.94%	11.11%	11.01%
Avg CPR Since Cut-off	10.94%	11.11%	11.01%



PSA	607.55%	582.82%	597.03%
3 Months Avg PSA Approximation	937.81%	966.01%	949.82%
12 Months Avg PSA Approximation	937.81%	966.01%	949.82%
Avg PSA Since Cut-off Approximation	937.81%	966.00%	949.82%

Page 16 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1

Mortgage Pass-Through Certificates

September 25, 2007 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/(0.20%*min(30,WAS))

Average SMM over period between nth month and mth month (AvgSMMn,m): 1 - [(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/(0.20%*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 17 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 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

326419504 2		261,000.00	260,034.32	27-Aug-2007	8.500%	IL - 90.00%	Paid Off - 360	01-Mar-2007
326419504 2		261,000.00	260,034.32	27-Aug-2007	8.500%	IL - 90.00%	Paid Off - 360	01-Mar-2007
326419611 2		109,250.00	108,831.43	05-Sep-2007	9.100%	NC - 95.00%	Paid Off - 360	01-Feb-2007
326420486 1		167,375.00	166,781.01	07-Sep-2007	9.500%	WI - 100.00%	Paid Off - 360	01-Feb-2007
326421369 1		72,000.00	71,694.38	28-Aug-2007	8.600%	ME - 60.00%	Paid Off - 360	01-Feb-2007
326423548 1		100,000.00	99,590.62	16-Aug-2007	8.000%	FL - 53.19%	Paid Off - 360	01-Mar-2007
326424009 2		121,800.00	120,732.69	07-Sep-2007	8.350%	DE - 70.00%	Paid Off - 360	01-Mar-2007
326424181 1		240,000.00	239,726.80	04-Sep-2007	6.950%	MD - 85.00%	Paid Off - 360	01-Mar-2007
326426418 1		105,300.00	104,603.80	30-Aug-2007	7.350%	MD - 90.00%	Paid Off - 360	01-Mar-2007
326427374 1		50,000.00	49,769.84	10-Sep-2007	8.900%	NC - 58.82%	Paid Off - 360	01-Mar-2007
326429008 1		63,000.00	62,648.72	04-Sep-2007	9.950%	MO - 70.00%	Paid Off - 360	01-Mar-2007
326429156 1		118,750.00	118,686.52	04-Sep-2007	8.950%	IL - 95.00%	Paid Off - 360	01-Mar-2007
326433851 1		204,250.00	204,181.94	22-Aug-2007	10.150%	IL - 90.78%	Paid Off - 360	01-Mar-2007
326435039 1		220,000.00	219,836.56	14-Sep-2007	7.600%	DC - 80.00%	Paid Off - 360	01-Apr-2007
326435583 2		707,230.00	704,334.87	22-Aug-2007	8.000%	IL - 80.18%	Paid Off - 360	01-Mar-2007
326436623 1		118,800.00	118,171.47	20-Aug-2007	6.700%	ME - 89.95%	Paid Off - 360	01-Mar-2007
326437027 1		150,000.00	149,384.68	28-Aug-2007	7.990%	MD - 73.89%	Paid Off - 360	01-Mar-2007
326438587 2		156,000.00	155,813.68	05-Sep-2007	9.150%	IL - 80.00%	Paid Off - 360	01-Mar-2007
326442837 2		60,000.00	59,830.15	13-Sep-2007	8.900%	GA - 80.00%	Paid Off - 360	01-Apr-2007
326445442 1		108,750.00	108,205.43	12-Sep-2007	6.990%	ME - 71.78%	Paid Off - 360	01-Mar-2007
326447026 2		332,000.00	332,000.00	23-Aug-2007	6.100%	IL - 80.00%	Paid Off - 360	01-Apr-2007
326449535 1		131,250.00	130,779.00	21-Aug-2007	8.650%	MD - 75.00%	Paid Off - 360	01-Mar-2007
326449733 1		50,915.00	50,761.68	06-Sep-2007	9.500%	OH - 94.99%	Paid Off - 360	01-Mar-2007
326451051 1		57,000.00	56,824.84	31-Aug-2007	8.500%	TN - 75.00%	Paid Off - 360	01-Apr-2007
326451192 2		262,500.00	261,668.52	17-Aug-2007	8.350%	NJ - 75.00%	Paid Off - 360	01-Apr-2007
326451622 1		167,400.00	167,308.18	31-Aug-2007	8.400%	OH - 90.00%	Paid Off - 360	01-Apr-2007
326453453 2		203,000.00	202,680.28	22-Aug-2007	6.990%	MD - 70.00%	Paid Off - 360	01-Apr-2007
326454394 2		202,960.00	202,712.46	30-Aug-2007	8.600%	VA - 80.00%	Paid Off - 360	01-Apr-2007
326455037 2		220,500.00	219,836.72	16-Aug-2007	8.700%	IL - 90.00%	Paid Off - 360	01-Apr-2007
326455094 2		277,200.00	276,209.03	29-Aug-2007	7.750%	OH - 80.00%	Paid Off - 360	01-Apr-2007
326455177 2		243,000.00	242,238.06	04-Sep-2007	8.400%	IL - 90.00%	Paid Off - 360	01-Apr-2007
326455953 1		150,000.00	149,479.64	24-Aug-2007	7.900%	NC - 89.34%	Paid Off - 360	01-Apr-2007
326458411 2		112,500.00	112,136.32	04-Sep-2007	8.250%	AL - 79.23%	Paid Off - 360	01-Apr-2007
326458833 2		258,300.00	258,163.14	30-Aug-2007	8.490%	UT - 90.00%	Paid Off - 360	01-Apr-2007
326462009 1		250,000.00	249,114.61	17-Aug-2007	8.390%	IL - 77.64%	Paid Off - 360	01-Apr-2007
326462678 2		88,060.00	87,794.90	28-Aug-2007	8.600%	TN - 74.00%	Paid Off - 360	01-Apr-2007
326465143 2		56,000.00	55,872.39	07-Sep-2007	11.550%	IL - 100.00%	Paid Off - 360	01-Feb-2007
326470259 1		65,000.00	64,888.05	16-Aug-2007	12.850%	NJ - 100.00%	Paid Off - 360	01-Feb-2007
326472495 2		119,800.00	119,492.05	13-Sep-2007	10.250%	NC - 100.00%	Paid Off - 360	01-Mar-2007
326472941 2		50,390.00	50,280.05	29-Aug-2007	11.100%	MA - 100.00%	Paid Off - 360	01-Mar-2007


TOTAL	6,431,280.00	6,413,098.83

Page 18 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution

Realized Loss Report

COLLATERAL REALIZED LOSSES



		Group 2	Group 1	Total


Current





Number of Loans Liquidated		0	1	1
Collateral Principal Realized Loss/(Gain) Amount		0.00	11,288.06	11,288.06
Collateral Interest Realized Loss/(Gain) Amount		0.00	0.00	0.00
Net Liquidation Proceeds		0.00	194,517.05	194,517.05

Cumulative
Cumulative



Subsequent Recoveries		0.00	0.00	0.00
Number of Loans Liquidated		0	1	1
Collateral Realized Loss/(Gain) Amount		0.00	11,288.06	11,288.06
Net Liquidation Proceeds		0.00	194,517.05	194,517.05






	Current Applied Realized Loss X				0.00
	Current Applied Realized Loss B-3				0.00
	Current Applied Realized Loss B-2				0.00
	Current Applied Realized Loss B-1				0.00
	Current Applied Realized Loss M-5				0.00
	Current Applied Realized Loss M-4				0.00
	Current Applied Realized Loss M-3				0.00
	Current Applied Realized Loss M-2				0.00
	Current Applied Realized Loss M-1				0.00

Page 19 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution


DEFAULT SPEEDS

	Group 2	Group 1	Total




MDR	0.00%	0.05%	0.02%
3 Months Avg MDR	0.00%	0.02%	0.01%
12 Months Avg MDR	0.00%	0.02%	0.01%
Avg MDR Since Cut-off	0.00%	0.02%	0.01%


CDR	0.00%	0.60%	0.26%
3 Months Avg CDR	0.00%	0.20%	0.09%
12 Months Avg CDR	0.00%	0.20%	0.09%
Avg CDR Since Cut-off	0.00%	0.20%	0.09%


SDA	0.00%	443.14%	189.12%
3 Months Avg SDA Approximation	0.00%	173.73%	74.00%
12 Months Avg SDA Approximation	0.00%	173.73%	74.00%
Avg SDA Since Cut-off Approximation	0.00%	173.73%	74.00%


Loss Severity Approximation for Current Period	0.00%	5.48%	5.48%
3 Months Avg Loss Severity Approximation	0.00%	5.48%	5.48%
12 Months Avg Loss Severity Approximation	0.00%	5.48%	5.48%
Avg Loss Severity Approximation Since Cut-off	0.00%	5.48%	5.48%

Page 20 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1

Mortgage Pass-Through Certificates

September 25, 2007 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.

Charged off or Partially Charged off Loans assumed to have a minimum 100% Loss Severity Percentage.

Page 21 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1

Mortgage Pass-Through Certificates

September 25, 2007 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)

326435195 1

7.450%

IL - 83.40%

360

205,805.11

11,288.06

TOTAL

205,805.11

11,288.06

Page 22 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1

Mortgage Pass-Through Certificates

September 25, 2007 Distribution

Triggers and Adj. Cert. Report

TRIGGER EVENTS

Group 2

Group 1

Total

Stepdown Date has occurred

Credit Enhancement Percentage (For Stepdown Date)

23.1420%

Senior Specified Enhancement %

56.5000%

Trigger Event in effect

Delinquency Trigger Calculations

60+ Day Deliquent Mortgage Loan Balance

15,002,307.95

Ending Balance

952,049,431.63

Delinquency Percentage

1.5758%

28.32% of Prior Senior Credit Enhancement Percentage

8.2467%

Prior Senior Credit Enhancement Percentage

28.9045%

Cumulative Realized Loss

11,288.06

Cutoff Pool Balance

981,398,941.96

Realized Loss Percentage

0.0012%

Servicer Event of Default?

Threshold Percentage ( Effective 07/25/2009 )

100.0000%

ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK

ADDITIONAL INFORMATION

Group 2

Group 1

Total

Current LIBOR Rate

5.505000%

Current LIBOR Determination Date

08/23/2007

Next LIBOR Rate

0.000000%

Next LIBOR Determination Date

09/21/2007

Current Swap LIBOR Rate

5.505000%

Page 23 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution

Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

		NET WAC Shortfall Prior (1)	Int on Prior SF (2)	Curr NET WAC SF (3)	Total NET WAC SF (1+2+3)	NET WAC Shortfall Paid	NET WAC Shortfall UnPaid


CLASS
	A-1	$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
	A-2B	$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
	M-1	$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
	M-3	$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
	M-5	$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
	B-1	$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
	B-3	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00




Page 24 of 25

EQUIFIRST LOAN SECURITIZATION TRUST 2007-1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
September 25, 2007 Distribution

Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
	Group 2	Group 1	Total
Scheduled Payments for all Mortgage Loans	3,921,280.32	2,998,086.88	6,919,367.20
Current Scheduled Payments 1 Month Prior	3,950,351.78	3,030,252.49	6,980,604.27
Current Scheduled Payments 2 Month Prior	4,007,845.86	3,067,366.12	7,075,211.98
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	0.00	0.00	0.00
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 25 of 25

EquiFirst Loan Securitization Trust 2007-1 10-D