10-D 1 sqt06001_10d-200606.txt 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 26, 2006 to June 26, 2006 Commission File Number of issuing entity: 333-118832-10 Sequoia Alternative Loan Trust 2006-1 (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-118832-01 Sequoia Residential Funding, Inc. (Exact name of depositor as specified in its charter) RWT Holdings, Inc. (Exact name of sponsor as specified in its charter) New York (State or other jurisdiction of incorporation or organization of the issuing entity) 54-2195543 54-2195544 (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) 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)) A-1 _____ _____ __X___ ____________ A-2 _____ _____ __X___ ____________ AR _____ _____ __X___ ____________ AR-L _____ _____ __X___ ____________ B-1 _____ _____ __X___ ____________ B-2 _____ _____ __X___ ____________ B-3 _____ _____ __X___ ____________ B-4 _____ _____ __X___ ____________ B-5 _____ _____ __X___ ____________ B-6 _____ _____ __X___ ____________ B-7 _____ _____ __X___ ____________

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 June 26, 2006 a distribution was made to holders of Sequoia Alternative Loan Trust 2006-1. 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 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 Sequoia Alternative Loan Trust 2006-1, relating to the June 26, 2006 distribution. (b) The exhibits required to be filed by Registrant pursuant to Item 601 of Regulation S-K 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. Sequoia Alternative Loan Trust 2006-1 (Issuing Entity) Wells Fargo Bank, N.A. (Master Servicer) /s/ Diane Courtney Diane Courtney, Vice President Date: July 6, 2006 EXHIBIT INDEX Exhibit Number Description EX-99.1 Monthly report distributed to holders of Sequoia Alternative Loan Trust 2006-1, relating to the June 26, 2006 distribution. EX-99.1 Sequoia Alternative Loan Trust Mortgage Pass-Through Certificates Distribution Date: 6/26/2006 Sequoia Alternative Loan Trust Mortgage Pass-Through Certificates Series 2006-1 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

Certificateholder Distribution Summary Class CUSIP Certificate Beginning Interest Pass-Through Certificate Distribution Rate Balance A-1 81744DAA0 6.~~18111~~18531% ~~224~~220,~~675~~181,~~815~~476.3124 1,~~157~~134,~~287~~909.6148 A-2 81744DAL6 6.~~18111~~18531% 3837,~~716~~941,~~044~~581.3367 ~~199~~195,~~423~~567.3314 AR 81744DAB8 6.~~18531~~17249% 0.00 0.00 AR-L 81744DAC6 6.~~18531~~17249% 0.00 0.00 B-1 81744DAD4 6.~~18111~~18531% 9,~~781~~780,~~025~~006.0128 50,~~381~~410.3033 B-2 81744DAE2 6.~~18111~~18531% 4,213,~~718~~279.3648 21,~~704~~717.5304 B-3 81744DAF9 6.~~18111~~18531% 2,~~558~~557,~~221~~955.8944 13,~~177~~184.2080 B-4 81744DAG7 6.~~18111~~18531% 752,~~771~~692.0463 3,~~877~~879.4670 B-5 81744DAH5 6.~~18111~~18531% 1,655,~~496~~324.4604 8,~~527~~532.3325 B-6 81744DAJ1 6.~~18111~~18531% 1,805,~~450~~262.8581 9,~~299~~305.7410 B-7 81744DAK8 6.~~18111~~18531% 1,353,~~830~~689.2625 6,~~973~~977.4749 Totals ~~285~~280,~~512~~241,~~373~~267.5184 1,~~470~~444,~~651~~483.9733

Certificateholder Distribution Summary (continued) Class Principal Current Ending Total Cumulative Distribution Realized Certificate Distribution Realized Loss Balance Losses A-1 45,~~494~~651,~~339~~011.0645 0.00 ~~220~~214,~~181~~530,~~476~~464.2480 56,~~651~~785,~~626~~920.6793 0.00 A-2 ~~774~~973,~~462~~779.6697 0.00 3736,~~941~~967,~~581~~801.6769 ~~973~~1,~~885~~169,347.9911 0.00 AR 0.00 0.00 0.00 0.00 0.00 AR-L 0.00 0.00 0.00 0.00 0.00 B-1 1,~~018~~029.7376 0.00 9,~~780~~778,~~006~~976.2852 51,~~400~~440.0309 0.00 B-2 ~~438~~443.8762 0.00 4,~~213~~212,~~279~~835.4886 22,~~143~~160.4066 0.00 B-3 ~~266~~269.4533 0.00 2,557,~~955~~686.4411 13,~~443~~454.6513 0.00 B-4 7879.4025 0.00 752,~~692~~613.6338 3,~~955~~958.8695 0.00 B-5 ~~172~~174.4329 0.00 1,655,~~324~~149.0475 8,~~699~~706.7654 0.00 B-6 ~~188~~190.0408 0.00 1,805,~~262~~072.8173 9,~~487~~495.7818 0.00 B-7 ~~141~~142.0153 0.00 1,353,~~689~~546.2572 7,~~114~~120.4802 0.00 Totals 56,~~271~~627,~~105~~120.6528 0.00 ~~280~~273,~~241~~614,~~267~~147.8456 68,~~741~~071,~~757~~603.6261 0.00 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.

Principal Distribution Statement Class Original Beginning Scheduled UnScheduled Accretion Realized Face Certificate Principal Principal Loss Amount Balance Distribution Distribution A-1 237,930,000.00 ~~224~~220,~~675~~181,~~815~~476.3124 23,~~400~~183.8234 45,~~470~~627,~~938~~828.2511 0.00 0.00 A-2 41,000,000.00 3837,~~716~~941,~~044~~581.3367 43,~~032~~994.4294 ~~770~~969,~~430~~785.2403 0.00 0.00 AR 50.00 0.00 0.00 0.00 0.00 0.00 AR-L 50.00 0.00 0.00 0.00 0.00 0.00 B-1 9,784,000.00 9,~~781~~780,~~025~~006.0128 1,~~018~~029.7376 0.00 0.00 0.00 B-2 4,215,000.00 4,213,~~718~~279.3648 ~~438~~443.8762 0.00 0.00 0.00 B-3 2,559,000.00 2,~~558~~557,~~221~~955.8944 ~~266~~269.4533 0.00 0.00 0.00 B-4 753,000.00 752,~~771~~692.0463 7879.4025 0.00 0.00 0.00 B-5 1,656,000.00 1,655,~~496~~324.4604 ~~172~~174.4329 0.00 0.00 0.00 B-6 1,806,000.00 1,805,~~450~~262.8581 ~~188~~190.0408 0.00 0.00 0.00 B-7 1,354,242.04 1,353,~~830~~689.2625 ~~141~~142.0153 0.00 0.00 0.00 Totals 301,057,342.04 ~~285~~280,~~512~~241,~~373~~267.5184 29,~~737~~507.1714 56,~~241~~597,~~368~~613.4914 0.00 0.00

Principal Distribution Statement (continued) Class Total Ending Ending Total Principal Certificate Certificate Principal Reduction Balance Percentage Distribution A-1 45,~~494~~651,~~339~~011.0645 ~~220~~214,~~181~~530,~~476~~464.2480 0.~~92540443~~90165370 45,~~494~~651,~~339~~011.0645 A-2 ~~774~~973,~~462~~779.6697 3736,~~941~~967,~~581~~801.6769 0.~~92540443~~90165370 ~~774~~973,~~462~~779.6697 AR 0.00 0.00 0.00000000 0.00 AR-L 0.00 0.00 0.00000000 0.00 B-1 1,~~018~~029.7376 9,~~780~~778,~~006~~976.2852 0.~~99959181~~99948656 1,~~018~~029.7376 B-2 ~~438~~443.8762 4,~~213~~212,~~279~~835.4886 0.~~99959181~~99948656 ~~438~~443.8762 B-3 ~~266~~269.4533 2,557,~~955~~686.4411 0.~~99959181~~99948656 ~~266~~269.4533 B-4 7879.4025 752,~~692~~613.6338 0.~~99959181~~99948656 7879.4025 B-5 ~~172~~174.4329 1,655,~~324~~149.0475 0.~~99959181~~99948656 ~~172~~174.4329 B-6 ~~188~~190.0408 1,805,~~262~~072.8173 0.~~99959181~~99948656 ~~188~~190.0408 B-7 ~~141~~142.0153 1,353,~~689~~546.2572 0.~~99959181~~99948656 ~~141~~142.0153 Totals 56,~~271~~627,~~105~~120.6528 ~~280~~273,~~241~~614,~~267~~147.8456 0.~~93085678~~90884396 56,~~271~~627,~~105~~120.6528

Principal Distribution Factors Statement Class Original Beginning Scheduled UnScheduled Accretion Face Certificate Principal Principal Amount Balance Distribution Distribution A-1 237,930,000.00 ~~944~~925.~~29376417~~40443088 0.~~09835170~~09743765 1823.~~79098159~~65329345 0.00000000 A-2 41,000,000.00 ~~944~~925.~~29376415~~40443098 0.~~09835171~~09743756 1823.~~79098146~~65329341 0.00000000 AR 50.00 0.00000000 0.00000000 0.00000000 0.00000000 AR-L 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,784,000.00 999.~~69593316~~59181112 0.~~10412204~~10524939 0.00000000 0.00000000 B-2 4,215,000.00 999.~~69593357~~59181020 0.~~10412100~~10524792 0.00000000 0.00000000 B-3 2,559,000.00 999.~~69593200~~59180930 0.~~10412270~~10524814 0.00000000 0.00000000 B-4 753,000.00 999.~~69593625~~59180611 0.~~10411687~~10524568 0.00000000 0.00000000 B-5 1,656,000.00 999.~~69592995~~59181159 0.~~10412440~~10524758 0.00000000 0.00000000 B-6 1,806,000.00 999.~~69593023~~59181063 0.~~10411960~~10524917 0.00000000 0.00000000 B-7 1,354,242.04 999.~~69593323~~59180857 0.~~10412467~~10524706 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Class Realized Total Ending Ending Total Loss Principal Certificate Certificate Principal Reduction Balance Percentage Distribution A-1 0.00000000 1823.~~88933325~~75073110 ~~925~~901.~~40443088~~65369983 0.~~92540443~~90165370 1823.~~88933325~~75073110 A-2 0.00000000 1823.~~88933317~~75073098 ~~925~~901.~~40443098~~65369976 0.~~92540443~~90165370 1823.~~88933317~~75073098 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR-L 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~10412204~~10524939 999.~~59181112~~48656173 0.~~99959181~~99948656 0.~~10412204~~10524939 B-2 0.00000000 0.~~10412100~~10524792 999.~~59181020~~48656228 0.~~99959181~~99948656 0.~~10412100~~10524792 B-3 0.00000000 0.~~10412270~~10524814 999.~~59180930~~48656116 0.~~99959181~~99948656 0.~~10412270~~10524814 B-4 0.00000000 0.~~10411687~~10524568 999.~~59180611~~48656042 0.~~99959181~~99948656 0.~~10411687~~10524568 B-5 0.00000000 0.~~10412440~~10524758 999.~~59181159~~48656401 0.~~99959181~~99948656 0.~~10412440~~10524758 B-6 0.00000000 0.~~10411960~~10524917 999.~~59181063~~48656146 0.~~99959181~~99948656 0.~~10411960~~10524917 B-7 0.00000000 0.~~10412467~~10524706 999.~~59180857~~48656150 0.~~99959181~~99948656 0.~~10412467~~10524706 NOTE: All classes per $1,000 denomination.

Interest Distribution Statement Class Accrual Accrual Current Beginning Current Payment of Dates Days Certificate Certificate/ Accrued Unpaid Interest Rate Notional Interest Shortfall (1) Balance A-1 0405/01/06 - 0405/30/06 30 6.~~18111~~18531% ~~224~~220,~~675~~181,~~815~~476.3124 1,~~157~~134,~~287~~909.6148 0.00 A-2 0405/01/06 - 0405/30/06 30 6.~~18111~~18531% 3837,~~716~~941,~~044~~581.3367 ~~199~~195,~~423~~567.3314 0.00 AR N/A N/A 6.~~18531~~17249% 0.00 0.00 0.00 AR-L N/A N/A 6.~~18531~~17249% 0.00 0.00 0.00 B-1 0405/01/06 - 0405/30/06 30 6.~~18111~~18531% 9,~~781~~780,~~025~~006.0128 50,~~381~~410.3033 0.00 B-2 0405/01/06 - 0405/30/06 30 6.~~18111~~18531% 4,213,~~718~~279.3648 21,~~704~~717.5304 0.00 B-3 0405/01/06 - 0405/30/06 30 6.~~18111~~18531% 2,~~558~~557,~~221~~955.8944 13,~~177~~184.2080 0.00 B-4 0405/01/06 - 0405/30/06 30 6.~~18111~~18531% 752,~~771~~692.0463 3,~~877~~879.4670 0.00 B-5 0405/01/06 - 0405/30/06 30 6.~~18111~~18531% 1,655,~~496~~324.4604 8,~~527~~532.3325 0.00 B-6 0405/01/06 - 0405/30/06 30 6.~~18111~~18531% 1,805,~~450~~262.8581 9,~~299~~305.7410 0.00 B-7 0405/01/06 - 0405/30/06 30 6.~~18111~~18531% 1,353,~~830~~689.2625 6,~~973~~977.4749 0.00 Totals 1,~~470~~444,~~651~~483.9733 0.00

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 A-1 0.00 0.00 1,~~157~~134,~~287~~909.6148 0.00 ~~220~~214,~~181~~530,~~476~~464.2480 A-2 0.00 0.00 ~~199~~195,~~423~~567.3314 0.00 3736,~~941~~967,~~581~~801.6769 AR 0.00 0.00 0.00 0.00 0.00 AR-L 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 50,~~381~~410.3033 0.00 9,~~780~~778,~~006~~976.2852 B-2 0.00 0.00 21,~~704~~717.5304 0.00 4,~~213~~212,~~279~~835.4886 B-3 0.00 0.00 13,~~177~~184.2080 0.00 2,557,~~955~~686.4411 B-4 0.00 0.00 3,~~877~~879.4670 0.00 752,~~692~~613.6338 B-5 0.00 0.00 8,~~527~~532.3325 0.00 1,655,~~324~~149.0475 B-6 0.00 0.00 9,~~299~~305.7410 0.00 1,805,~~262~~072.8173 B-7 0.00 0.00 6,~~973~~977.4749 0.00 1,353,~~689~~546.2572 Totals 0.00 0.00 1,~~470~~444,~~651~~483.9733 0.00 (1) Amount also includes Coupon Cap or Basis Risk Shortfalls,if applicable.

Interest Distribution Factors Statement Class Original Current Beginning Current Payment of Face Certificate Certificate/ Accrued Unpaid Interest Amount Rate Notional Interest Shortfall (1) Balance A-1 237,930,000.00 6.~~18111~~18531% ~~944~~925.~~29376417~~40443088 4.~~86398357~~76993015 0.00000000 A-2 41,000,000.00 6.~~18111~~18531% ~~944~~925.~~29376415~~40443098 4.~~86398366~~76993024 0.00000000 AR 50.00 6.~~18531~~17249% 0.00000000 0.00000000 0.00000000 AR-L 50.00 6.~~18531~~17249% 0.00000000 0.00000000 0.00000000 B-1 9,784,000.00 6.~~18111~~18531% 999.~~69593316~~59181112 5.~~14935609~~15232318 0.00000000 B-2 4,215,000.00 6.~~18111~~18531% 999.~~69593357~~59181020 5.~~14935469~~15232266 0.00000000 B-3 2,559,000.00 6.~~18111~~18531% 999.~~69593200~~59180930 5.~~14935522~~15232513 0.00000000 B-4 753,000.00 6.~~18111~~18531% 999.~~69593625~~59180611 5.~~14934927~~15232404 0.00000000 B-5 1,656,000.00 6.~~18111~~18531% 999.~~69592995~~59181159 5.~~14935386~~15232488 0.00000000 B-6 1,806,000.00 6.~~18111~~18531% 999.~~69593023~~59181063 5.~~14935770~~15232558 0.00000000 B-7 1,354,242.04 6.~~18111~~18531% 999.~~69593323~~59180857 5.~~14935277~~15232122 0.00000000

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 A-1 0.00000000 0.00000000 4.~~86398357~~76993015 0.00000000 ~~925~~901.~~40443088~~65369983 A-2 0.00000000 0.00000000 4.~~86398366~~76993024 0.00000000 ~~925~~901.~~40443098~~65369976 AR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR-L 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 5.~~14935609~~15232318 0.00000000 999.~~59181112~~48656173 B-2 0.00000000 0.00000000 5.~~14935469~~15232266 0.00000000 999.~~59181020~~48656228 B-3 0.00000000 0.00000000 5.~~14935522~~15232513 0.00000000 999.~~59180930~~48656116 B-4 0.00000000 0.00000000 5.~~14934927~~15232404 0.00000000 999.~~59180611~~48656042 B-5 0.00000000 0.00000000 5.~~14935386~~15232488 0.00000000 999.~~59181159~~48656401 B-6 0.00000000 0.00000000 5.~~14935770~~15232558 0.00000000 999.~~59181063~~48656146 B-7 0.00000000 0.00000000 5.~~14935277~~15232122 0.00000000 999.~~59180857~~48656150 (1) Amount also includes Coupon Cap or Basis Risk Shortfalls,if applicable. NOTE: All classes per $1,000 denomination.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 68,~~789~~125,~~769~~348.9727 Reserve Funds and Credit Enhancements 0.00 Proceeds from Repurchased Loans 0.00 Servicer Advances 4449,~~992~~938.1108 Gains & Subsequent Recoveries (Realized Losses) 0.00 Prepayment Penalties 0.00 Total Deposits 68,~~834~~175,~~762~~286.0835 Withdrawals Reserve Funds and Credit Enhancements 0.00 Reimbursement for Servicer Advances 3344,~~215~~992.6611 Total Administration Fees 5958,~~788~~690.8063 Payment of Interest and Principal 68,~~741~~071,~~757~~603.6261 Total Withdrawals (Pool Distribution Amount) 68,~~834~~175,~~762~~286.0835 Ending Balance 0.00 Servicer Advances are calculated as delinquent scheduled principal and interest.

ADMINISTRATION FEES Gross Servicing Fee* 5958,~~481~~383.7460 Lender Paid Mortgage Insurance * 307.0603 Supported Prepayment/Curtailment Interest Shortfall 0.00 Total Administration Fees 5958,~~788~~690.8063 *Servicer Payees include: COUNTRYWIDE HOME LOANS INC.

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~432398~~436628% Weighted Average Net Coupon 6.~~182398~~186628% Weighted Average Pass-Through Rate 6.~~181107~~185314% Weighted Average Remaining Term ~~355~~354 Beginning Scheduled Collateral Loan Count ~~478~~470 Number Of Loans Paid In Full 810 Ending Scheduled Collateral Loan Count ~~470~~460 Beginning Scheduled Collateral Balance ~~285~~280,~~512~~241,~~373~~267.5185 Ending Scheduled Collateral Balance ~~280~~273,~~241~~614,~~267~~147.8556 Ending Actual Collateral Balance at 3031-~~Apr~~May-2006 ~~280~~273,~~270~~639,~~296~~856.9019 Monthly P&I Constant 1,~~560~~532,~~178~~681.1020 Special Servicing Fee 0.00 Prepayment Penalty Waived Amount 0.00 Prepayment Penalty Waived Count 0 Prepayment Penalty Paid By Borrower Amount 0.00 Prepayment Penalty Paid By Borrower Count 0 Prepayment Penalty Paid By Servicer Amount 0.00 Prepayment Penalty Paid By Servicer Count 0 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 29,~~737~~507.1715 Unscheduled Principal 56,~~241~~597,~~368~~613.4914

Additional Reporting - Deal Level Informational Reporting Principal Balance of 1 Year LIBOR Loans ~~278~~272,~~971~~345,~~404~~527.7502 Principal Balance of 1 Year CMT Loans 1,~~269~~268,~~863~~620.1054 Structural Reporting Senior Percentage 92.~~2523~~107440% Senior Prepayment Percentage 100.~~0000~~000000% Subordinate Percentage 077.~~7477~~892560% Subordinate Prepayment Percentage 0.000000% Trigger Event Reporting Delinquency Test For Step Down Trigger Result Pass Threshold Value 50.~~0000~~000000% Calculated Value 056.~~7074~~909239% Cumulative Loss Test For Step Down Trigger Result Pass Threshold Value 20.~~0000~~000000% Calculated Value 0.000000% Step Down Condition Trigger Result Pass ~~Threshold Value 0.000000% Calculated Value 0.000000%~~ Delinquency Test For Two Times Condition Trigger Result Pass Threshold Value 50.~~0000~~000000% Calculated Value 056.~~7074~~909239% Cumulative Loss Test For Two Times Condition Trigger Result Pass Threshold Value 20.~~0000~~000000% Calculated Value 0.000000% Two Times Condition Trigger Result Pass ~~Threshold Value 0.000000% Calculated Value 0.000000%~~

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 1011 0 0 0 1011 56,~~457~~319,943.0004 0.00 0.00 0.00 56,~~457~~319,943.0004 60 Days 1 0 0 0 1 ~~650~~421,000.00 0.00 0.00 0.00 ~~650~~421,000.00 90 Days 2 0 0 0 2 1,~~528~~054,000.00 0.00 0.00 0.00 1,~~528~~054,000.00 120 Days 1 0 0 0 1 ~~448~~668,000.00 0.00 0.00 0.00 ~~448~~668,000.00 150 Days 01 0 0 0 01 0448,000.00 0.00 0.00 0.00 0448,000.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1416 0 0 0 1416 8,~~083~~910,943.0004 0.00 0.00 0.00 8,~~083~~910,943.0004 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 2.~~127660~~391304% 0.000000% 0.000000% 0.000000% 2.~~127660~~391304% 12.~~947385~~309584% 0.000000% 0.000000% 0.000000% 12.~~947385~~309584% 60 Days 0.~~212766~~217391% 0.000000% 0.000000% 0.000000% 0.~~212766~~217391% 0.~~231919~~153852% 0.000000% 0.000000% 0.000000% 0.~~231919~~153852% 90 Days 0.~~425532~~434783% 0.000000% 0.000000% 0.000000% 0.~~425532~~434783% 0.~~545188~~385178% 0.000000% 0.000000% 0.000000% 0.~~545188~~385178% 120 Days 0.~~212766~~217391% 0.000000% 0.000000% 0.000000% 0.~~212766~~217391% 0.~~159846~~244116% 0.000000% 0.000000% 0.000000% 0.~~159846~~244116% 150 Days 0.~~000000~~217391% 0.000000% 0.000000% 0.000000% 0.~~000000~~217391% 0.~~000000~~163719% 0.000000% 0.000000% 0.000000% 0.~~000000~~163719% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 23.~~978723~~478261% 0.000000% 0.000000% 0.000000% 23.~~978723~~478261% 23.~~884338~~256449% 0.000000% 0.000000% 0.000000% 23.~~884338~~256449%

Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4449,~~992~~938.1108

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 117,782.00 0.03912278% 117,782.00 0.~~04202879~~04304675% Fraud 6,021,146.00 1.99999972% 6,021,146.00 2.~~14855794~~20059747% Special Hazard 6,431,599.00 2.13633687% 6,431,599.00 2.~~29502209~~35060908% Limit of Subordinate's Exposure to Certain Types of Losses

REO Detail - All Mortgage Loans in REO during Current Period

Summary 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 ~~Jun~~Jul-05 0.000% Original Principal Balance 0.00 ~~Jul~~Aug-05 0.000% Current Actual Balance 0.00 ~~Aug~~Sep-05 0.000% ~~Sep~~Oct-05 0.000% Current REO Total ~~Oct~~Nov-05 0.000% Loans in REO 0 ~~Nov~~Dec-05 0.000% Original Principal Balance 0.00 ~~Dec~~Jan-0506 0.000% Current Actual Balance 0.00 ~~Jan~~Feb-06 0.000% ~~Feb~~Mar-06 0.000% ~~Mar~~Apr-06 0.000% ~~Apr~~May-06 0.000% ~~May~~Jun-06 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 ~~Jun~~Jul-05 0.000% Original Principal Balance 0.00 ~~Jul~~Aug-05 0.000% Current Actual Balance 0.00 ~~Aug~~Sep-05 0.000% ~~Sep~~Oct-05 0.000% Current Foreclosure Total ~~Oct~~Nov-05 0.000% Loans in Foreclosure 0 ~~Nov~~Dec-05 0.000% Original Principal Balance 0.00 ~~Dec~~Jan-0506 0.000% Current Actual Balance 0.00 ~~Jan~~Feb-06 0.000% ~~Feb~~Mar-06 0.000% ~~Mar~~Apr-06 0.000% ~~Apr~~May-06 0.000% ~~May~~Jun-06 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period

Summary 12 Month Bankruptcy History* New Bankruptcy Loans Month Bankruptcy Percentage Loans in Bankruptcy 0 ~~Jun~~Jul-05 0.000% Original Principal Balance 0.00 ~~Jul~~Aug-05 0.000% Current Actual Balance 0.00 ~~Aug~~Sep-05 0.000% ~~Sep~~Oct-05 0.000% Current Bankruptcy Total ~~Oct~~Nov-05 0.000% Loans in Bankruptcy 0 ~~Nov~~Dec-05 0.000% Original Principal Balance 0.00 ~~Dec~~Jan-0506 0.000% Current Actual Balance 0.00 ~~Jan~~Feb-06 0.000% ~~Feb~~Mar-06 0.000% ~~Mar~~Apr-06 0.000% ~~Apr~~May-06 0.000% ~~May~~Jun-06 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

Realized Loss Report - Collateral Summary MDR SDA Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs. 12mo Average* SDA: Current vs. 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Jun-2005 N/A N/A Jun-2005 N/A N/A~~ Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 N/A N/A Oct-2005 N/A N/A Nov-2005 N/A N/A Nov-2005 N/A N/A Dec-2005 N/A N/A Dec-2005 N/A N/A Jan-2006 N/A N/A Jan-2006 N/A N/A Feb-2006 0.000% N/A Feb-2006 0.000% N/A Mar-2006 0.000% N/A Mar-2006 0.000% N/A Apr-2006 0.000% N/A Apr-2006 0.000% N/A May-2006 0.000% N/A May-2006 0.000% N/A Jun-2006 0.000% N/A Jun-2006 0.000% 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. CDR Loss Severity Approximation Current Month 0.000% Current Month 0.000% 3 Month Average 0.000% 3 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CDR: Current vs. 12mo Average* Loss Severity: Current vs. 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Jun-2005 N/A N/A Jun-2005 N/A N/A~~ Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 N/A N/A Oct-2005 N/A N/A Nov-2005 N/A N/A Nov-2005 N/A N/A Dec-2005 N/A N/A Dec-2005 N/A N/A Jan-2006 N/A N/A Jan-2006 N/A N/A Feb-2006 0.000% N/A Feb-2006 0.000% N/A Mar-2006 0.000% N/A Mar-2006 0.000% N/A Apr-2006 0.000% N/A Apr-2006 0.000% N/A May-2006 0.000% N/A May-2006 0.000% N/A Jun-2006 0.000% N/A Jun-2006 0.000% 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. 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 Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Scheduled Balance of Liquidated Loans)

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 Total 810 56,~~237~~546,~~199~~882.00 56,~~232~~546,~~587~~850.9202 0 0.00 0.00

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 Total 0 0.00 0.00 0 0.00 0.00 950,~~174~~763.8112

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Summary ~~0406005774~~0406005837 CT 90.00 01-Dec-2005 625,500.00 625,500.00 Summary 0406005846 CA 80.00 01-~~Nov~~Dec-2005 ~~648~~488,000.00 ~~648~~488,000.00 Summary ~~0406005938~~0406006016 CAAZ 6590.00 01-Dec-2005 ~~650~~558,000.00 ~~650~~558,000.00 Summary ~~0406005950~~0406006107 CAOR 6676.3564 01-Dec-2005 ~~424~~513,~~000~~500.00 ~~421~~513,~~587~~500.2400 Summary ~~0406005970~~0406006124 NVFL 6480.0100 01-Dec-2005 ~~999~~672,000.00 ~~998~~672,~~458~~000.9500 Summary ~~0406005975~~0406006132 ILCA 7280.2500 01-Dec-2005 ~~755~~602,~~000~~440.00 ~~752~~602,~~950~~440.2600 Summary ~~0406006057~~0406006133 CA 8070.00 01-Dec-2005 ~~556~~1,134,000.00 ~~556~~1,134,000.00 Summary ~~0406451167~~0406450701 CA 75.00 01-Nov-2005 877,500.00 877,474.33 Summary 0406450763 FL 80.00 01-~~Jan~~Dec-~~2006~~2005 ~~555~~620,~~199~~000.00 ~~555~~619,~~197~~993.2369 Summary ~~0406451247~~0406451242 CA 7880.3100 01-Jan-2006 ~~650~~455,~~000~~942.00 ~~650~~455,~~000~~942.00

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Summary ~~0406005774~~0406005837 Loan Paid in Full 0 5.875% 360 6 Summary ~~0406005938~~0406005846 Loan Paid in Full 0 57.~~875~~500% 360 56 Summary ~~0406005950~~0406006016 Loan Paid in Full 0 67.~~500~~750% 360 56 Summary ~~0406005970~~0406006107 Loan Paid in Full 0 7.375% 360 6 Summary 0406006124 Loan Paid in Full 0 8.~~500~~000% 360 56 Summary ~~0406005975~~0406006132 Loan Paid in Full ~~(1)~~0 6.~~000~~875% 360 56 Summary ~~0406006057~~0406006133 Loan Paid in Full 0 57.~~625~~125% 360 56 Summary ~~0406451167~~0406450701 Loan Paid in Full 0 6.~~750~~000% 360 47 Summary ~~0406451247~~0406450763 Loan Paid in Full 0 6.~~500~~250% 360 46 Summary 0406451242 Loan Paid in Full 0 7.625% 360 5

Prepayment - Voluntary Prepayments

Summary SMM CPR PSA Current Month 12.~~836~~355% Current Month 1924.~~938~~868% Current Month 2,~~154~~213.~~251~~517% 3 Month Average 1.~~518~~852% 3 Month Average 1620.~~743~~008% 3 Month Average 2,~~369~~154.~~576~~266% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs. 12mo Average* PSA: Current vs. 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Jun-2005 N/A N/A Jun-2005 N/A N/A~~ Jul-2005 N/A N/A Jul-2005 N/A N/A Aug-2005 N/A N/A Aug-2005 N/A N/A Sep-2005 N/A N/A Sep-2005 N/A N/A Oct-2005 N/A N/A Oct-2005 N/A N/A Nov-2005 N/A N/A Nov-2005 N/A N/A Dec-2005 N/A N/A Dec-2005 N/A N/A Jan-2006 N/A N/A Jan-2006 N/A N/A Feb-2006 26.218% N/A Feb-2006 8,023.659% N/A Mar-2006 15.072% N/A Mar-2006 2,859.447% N/A Apr-2006 15.220% N/A Apr-2006 2,095.029% N/A May-2006 19.938% N/A May-2006 2,154.251% N/A Jun-2006 24.868% N/A Jun-2006 2,213.517% 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. 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))

Interest Rate Stratification Summary Current Number of Outstanding Percentage of Interest Rate Loans Scheduled Balance(%) Range(%) Balance($) < 4.500 0 0.00 0.000 4.500 4.749 0 0.00 0.000 4.750 4.999 2 1,~~018~~017,~~073~~344.8010 0.~~363~~372 5.000 5.249 3 1,467,543.00 0.~~524~~536 5.250 5.499 8 4,803,~~310~~153.5706 1.~~714~~755 5.500 5.749 30 17,~~558~~556,~~119~~779.2257 6.~~265~~417 5.750 5.999 7271 4342,~~070~~435,~~217~~758.5936 15.~~369~~509 6.000 6.249 5352 3029,~~427~~506,~~992~~480.7472 10.~~858~~784 6.250 6.499 6261 3837,~~348~~721,~~586~~186.4416 13.~~684~~786 6.500 6.749 86 51,~~791~~784,~~382~~487.5310 18.~~481~~926 6.750 6.999 7776 4443,~~334~~726,~~208~~072.8441 15.~~820~~981 7.000 7.249 2423 1413,~~379~~243,~~174~~047.0954 54.~~131~~840 7.250 7.499 3029 1716,~~364~~849,~~308~~296.4870 6.~~196~~158 7.500 7.749 1210 76,~~489~~545,~~959~~434.1822 2.~~673~~392 7.750 7.999 65 3,~~967~~408,~~186~~359.3762 1.~~416~~246 >= 8.000 5 4 3,~~221~~549,205.00 1.~~506~~297 Total ~~470~~460 ~~280~~273,~~241~~614,~~267~~147.8556 100.000

~~Supplemental~~SUPPLEMENTAL ~~Reporting~~REPORTING ~~Closing Date January 31, 2006~~ Determination Date With respect to each Distribution Date, the 18th day of the month in which such Distribution Date occurs, or, if such 18th day is not a Business Day, the next succeeding Business Day; provided, however, that with respect to a Servicer, the Determination Date is the date set forth in the related Servicing Agreement. Distribution Date The 25th day of each month or, if such 25th day is not a Business Day, the next succeeding Business Day, commencing in February 2006. LIBOR Determination Date Not Applicable Record Date As to any Distribution Date, the last Business Day of the month preceding the month of each Distribution Date (or the Closing Date, in the case of the first Distribution Date). Remittance Date The 18th day of each calendar month after the initial issuance of the Certificates or, if such 18th day is not a Business Day, the immediately preceding Business Day, commencing in February 2006. Closing Date January 31, 2006

Filing Compare · Sequoia Alternative Loan Trust 2006-1