IndyMac INDX Mortgage Loan Trust 2006-AR5

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

External Parties

Table of Contents

Page

Seller

IndyMac Bank

1. Certificate Payment Report

2. Collection Account Report

Servicer(s)

3. Collateral Report

IndyMac Bank

4. Delinquency Report

5. REO Report

Underwriter(s)

6. Foreclosure Report

Merrill Lynch

7. Prepayment Report

8. Prepayment Detail Report

9. Realized Loss Report

10. Realized Loss Detail Report

11. Triggers and Adj. Cert. Report

12. Other Related Information

Total Number of Pages

Dates

Contacts

Cut-Off Date:

March 01, 2006

Marion Hogan

Close Date:

March 30, 2006

Administrator

First Distribution Date:

April 25, 2006

(714) 247-6282

marion.c.hogan@db.com

Address:

Distribution Date:

June 26, 2006

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

Record Date:

May 31, 2006

Factor Information:

(800) 735-7777

Main Phone Number:

(714) 247-6000

Determination Date:

June 19, 2006

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

Page 1 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Certificate Payment Report
Current Period Distribution -
				Prior						Current
	Class		Original	Principal			Total	Realized	Deferred	Principal
	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)
			(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
1-A-1	FLT	$	210,047,000.00	208,974,118.82	1,044,991.88	739,083.17	1,784,075.05	0.00	0.00	208,235,035.65
1-A-1	FLT	$	210,047,000.00	208,974,118.82	1,044,991.88	739,083.17	1,784,075.05	0.00	0.00	208,235,035.65
1-A-2	FLT	$	23,339,000.00	23,219,788.71	116,112.42	82,121.92	198,234.34	0.00	0.00	23,137,666.79
2-A-1	FLT	$	321,352,000.00	316,091,755.11	1,550,001.86	1,094,201.94	2,644,203.80	0.00	0.00	314,997,553.17
2-A-2	FLT	$	35,706,000.00	35,121,524.70	172,223.50	121,578.75	293,802.25	0.00	0.00	34,999,945.95
A-R	FLT	$	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
B-1	FLT	$	16,198,000.00	16,156,985.28	79,848.56	2,066.19	81,914.75	0.00	0.00	16,154,919.09
B-2	FLT	$	10,481,000.00	10,454,461.21	51,666.43	1,336.94	53,003.37	0.00	0.00	10,453,124.27
B-3	FLT	$	6,670,000.00	6,653,110.99	32,879.98	850.82	33,730.80	0.00	0.00	6,652,260.17
B-4	FLT	$	6,035,000.00	6,019,718.87	29,749.73	769.82	30,519.55	0.00	0.00	6,018,949.05
B-5	FLT	$	3,176,000.00	3,167,958.10	15,656.19	405.13	16,061.32	0.00	0.00	3,167,552.97
B-6	FLT	$	2,223,586.00	2,217,955.69	10,961.24	283.64	11,244.88	0.00	0.00	2,217,672.05
P-1	FLT	$	100.00	100.00	0.00	0.00	0.00	0.00	0.00	100.00
P-2	NPR	$	100.00	100.00	0.00	0.00	0.00	0.00	0.00	100.00


Total		635,227,886.00	628,077,577.48	3,104,091.79	2,042,698.32	5,146,790.11	0.00	0.00	626,034,879.16
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
					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)

1-A-1	05/01/06	05/30/06	A-30/360	45661ECK8	210,047,000.00	994.892185	4.975038	3.518656	8.493695	991.373529
1-A-1	05/01/06	05/30/06	A-30/360	45661ECK8	210,047,000.00	994.892185	4.975038	3.518656	8.493695	991.373529
1-A-2	05/01/06	05/30/06	A-30/360	45661ECL6	23,339,000.00	994.892185	4.975038	3.518656	8.493695	991.373529
2-A-1	05/01/06	05/30/06	A-30/360	45661ECM4	321,352,000.00	983.630894	4.823377	3.404995	8.228372	980.225899
2-A-2	05/01/06	05/30/06	A-30/360	45661EEM2	35,706,000.00	983.630894	4.823377	3.404995	8.228372	980.225899
A-R	05/01/06	05/30/06	A-30/360	45661ECN2	100.00	0.000000	0.000000	0.000000	0.000000	0.000000
B-1	05/01/06	05/30/06	A-30/360	45661ECP7	16,198,000.00	997.467915	4.929532	0.127558	5.057090	997.340356
B-2	05/01/06	05/30/06	A-30/360	45661ECQ5	10,481,000.00	997.467914	4.929532	0.127558	5.057091	997.340356
B-3	05/01/06	05/30/06	A-30/360	45661ECR3	6,670,000.00	997.467915	4.929532	0.127559	5.057091	997.340355
B-4	05/01/06	05/30/06	A-30/360	45661ECS1	6,035,000.00	997.467915	4.929533	0.127559	5.057092	997.340356
B-5	05/01/06	05/30/06	A-30/360	45661ECT9	3,176,000.00	997.467916	4.929531	0.127560	5.057091	997.340356
B-6	05/01/06	05/30/06	A-30/360	45661ECU6	2,223,586.00	997.467914	4.929533	0.127560	5.057092	997.340355
P-1	05/01/06	05/30/06	A-30/360	45661ECV4	100.00	1,000.000000	0.000000	0.000000	0.000000	1,000.000000
P-2	05/01/06	05/30/06	A-30/360	45661EFZ2	100.00	1,000.000000	0.000000	0.000000	0.000000	1,000.000000




Page 2 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution


Distribution to Date -
									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)
1-A-1	210,047,000.00	3,144,773.20	1,756,033.27	55,931.08	1,811,964.35	4,956,737.55	0.00	0.00	208,235,035.65
1-A-2	23,339,000.00	349,425.90	195,118.52	6,214.68	201,333.21	550,759.11	0.00	0.00	23,137,666.79
2-A-1	321,352,000.00	4,692,706.51	5,045,545.15	1,308,901.68	6,354,446.83	11,047,153.34	0.00	0.00	314,997,553.17
2-A-2	35,706,000.00	521,415.08	560,619.62	145,434.43	706,054.05	1,227,469.13	0.00	0.00	34,999,945.95
A-R	100.00	0.50	94.83	5.17	100.00	100.50	0.00	0.00	0.00
B-1	16,198,000.00	239,959.44	0.01	43,080.90	43,080.91	283,040.35	0.00	0.00	16,154,919.09
B-2	10,481,000.00	155,267.00	0.00	27,875.73	27,875.73	183,142.73	0.00	0.00	10,453,124.27
B-3	6,670,000.00	98,810.32	0.00	17,739.83	17,739.83	116,550.15	0.00	0.00	6,652,260.17
B-4	6,035,000.00	89,403.33	0.00	16,050.95	16,050.95	105,454.28	0.00	0.00	6,018,949.05
B-5	3,176,000.00	47,049.71	0.00	8,447.03	8,447.03	55,496.74	0.00	0.00	3,167,552.97
B-6	2,223,586.00	32,940.52	0.00	5,913.95	5,913.95	38,854.47	0.00	0.00	2,217,672.05
P-1	100.00	5,699.00	0.00	0.00	0.00	5,699.00	0.00	0.00	100.00
P-2	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	100.00


Total	635,227,886.00	9,377,450.51	7,557,411.40	1,635,595.43	9,193,006.84	18,570,457.35	0.00	0.00	626,034,879.16


Interest Detail -
	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)
1-A-1	6.00070%	208,974,118.82	1,044,991.88	0.00	0.00	0.00	1,044,991.88	1,044,991.88	0.00
1-A-2	6.00070%	23,219,788.71	116,112.42	0.00	0.00	0.00	116,112.42	116,112.42	0.00
2-A-1	5.88437%	316,091,755.11	1,550,001.86	0.00	0.00	0.00	1,550,001.86	1,550,001.86	0.00
2-A-2	5.88437%	35,121,524.70	172,223.50	0.00	0.00	0.00	172,223.50	172,223.50	0.00
A-R	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
B-1	5.93046%	16,156,985.28	79,848.56	0.00	0.00	0.00	79,848.56	79,848.56	0.00
B-2	5.93046%	10,454,461.21	51,666.43	0.00	0.00	0.00	51,666.43	51,666.43	0.00
B-3	5.93046%	6,653,110.99	32,879.98	0.00	0.00	0.00	32,879.98	32,879.98	0.00
B-4	5.93046%	6,019,718.87	29,749.73	0.00	0.00	0.00	29,749.73	29,749.73	0.00
B-5	5.93046%	3,167,958.10	15,656.19	0.00	0.00	0.00	15,656.19	15,656.19	0.00
B-6	5.93046%	2,217,955.69	10,961.24	0.00	0.00	0.00	10,961.24	10,961.24	0.00
P-1	0.00000%	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
P-2	0.00000%	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00


Total		628,077,577.48	3,104,091.79	0.00	0.00	0.00	3,104,091.79	3,104,091.79	0.00



Page 3 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Collection Account Report
SUMMARY

	Group 2	Group 1	Total
Principal Collections	1,218,696.22	824,002.08	2,042,698.30
Principal Withrawals	0.00	0.00	0.00
Principal Other Accounts	0.00	0.00	0.00
TOTAL NET PRINCIPAL	1,218,696.22	824,002.08	2,042,698.30
Interest Collections	1,883,869.63	1,268,700.40	3,152,570.04
Interest Withdrawals	-0.00	-0.00	-0.00
Interest Other Accounts	0.00	0.00	0.00
Interest Fees	-29,372.53	-19,105.70	-48,478.23
TOTAL NET INTEREST	1,854,497.10	1,249,594.70	3,104,091.80
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION	3,073,193.32	2,073,596.78	5,146,790.10




PRINCIPAL - COLLECTIONS

	Group 2	Group 1	Total
Scheduled Principal Received	40,876.82	39,497.04	80,373.86
Curtailments	222,919.40	19,353.15	242,272.55
Prepayments In Full	954,900.00	765,151.89	1,720,051.89
Repurchased/Substitutions	0.00	0.00	0.00
Liquidations	0.00	0.00	0.00
Delinquent Principal	-34,941.29	-30,139.22	-65,080.51
Realized Losses	-0.00	-0.00	-0.00
Advanced Principal	34,941.29	30,139.22	65,080.51
TOTAL PRINCIPAL COLLECTED	1,218,696.22	824,002.08	2,042,698.30




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 4 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution


INTEREST - COLLECTIONS

			Group 2	Group 1	Total
Scheduled Interest			1,974,414.03	1,328,830.63	3,303,244.66
Repurchased/Substitution Interest			0.00	0.00	0.00
Liquidation Interest			0.00	0.00	0.00
Prepayment Interest Shortfalls			-1,087.50	-746.74	-1,834.24
Delinquent Interest			-1,516,302.71	-1,027,444.88	-2,543,747.59
Compensating Interest			1,087.50	746.74	1,834.24
Civil Relief Act Shortfalls			-0.00	-0.00	-0.00
Interest Loss			-0.00	-0.00	-0.00
Interest Advanced			1,425,758.31	967,314.65	2,393,072.96
TOTAL INTEREST COLLECTED			1,883,869.63	1,268,700.40	3,152,570.04




INTEREST - WITHDRAWALS

			Group 2	Group 1	Total
TOTAL INTEREST WITHDRAWALS			0.00	0.00	0.00




INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
		Group 2	Group 1	Total
	Hard Prepayment Charges			0.00
	Soft Prepayment Charges			0.00
	Capitalized Interest			0.00
	TOTAL INTEREST OTHER ACCOUNTS	0.00	0.00	0.00




INTEREST FEES
INTEREST FEES
		Group 2	Group 1	Total
	Current Servicing Fees	27,639.17	17,960.37	45,599.54
	Trustee Fees	1,733.36	1,145.33	2,878.69
	TOTAL INTEREST FEES	29,372.53	19,105.70	48,478.23



Page 5 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Collateral Report


COLLATERAL




		Group 2	Group 1	Total



Loan Count:


Original	595	883	1,478
Prior	589	880	1,469
Prefunding	0	0	0
Scheduled Paid Offs	-0	-0	-0
Full Voluntary Prepayments	-2	-4	-6
Repurchases	-0	-0	-0
Liquidations	-0	-0	-0
Current	587	876	1,463
Principal Balance:


Original	384,139,855.74	251,087,830.27	635,227,686.01
Prior	378,187,445.42	249,889,932.07	628,077,377.49
Prefunding	0.00	0.00	0.00
Scheduled Principal	-40,876.82	-39,497.04	-80,373.86
Partial Prepayments	-222,919.40	-19,353.15	-242,272.55
Full Voluntary Prepayments	-954,900.00	-765,151.89	-1,720,051.89
Repurchases	-0.00	-0.00	-0.00
Liquidations	-0.00	-0.00	-0.00
Current	376,968,749.20	249,065,929.99	626,034,679.19





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK

Page 6 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution


CHARACTERISTICS
CHARACTERISTICS

	Group 2	Group 1	Total
Weighted Average Coupon Original	6.27212%	6.38463%	6.31659%
Weighted Average Coupon Prior	6.26906%	6.38303%	6.31426%
Weighted Average Coupon Current	6.26487%	6.38120%	6.31115%
Weighted Average Months to Maturity Original	359	358	359
Weighted Average Months to Maturity Prior	358	358	358
Weighted Average Months to Maturity Current	357	357	357
Weighted Avg Remaining Amortization Term Original	360	361	360
Weighted Avg Remaining Amortization Term Prior	359	360	359
Weighted Avg Remaining Amortization Term Current	357	359	358
Weighted Average Seasoning Original	1.16	1.28	1.21
Weighted Average Seasoning Prior	2.15	2.28	2.20
Weighted Average Seasoning Current	3.15	3.28	3.20

Page 7 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution


ARM CHARACTERISTICS
ARM CHARACTERISTICS

		Group 2	Group 1	Total
Weighted Average Margin Original		2.68481%	2.72346%	2.70009%
Weighted Average Margin Prior		2.68539%	2.72342%	2.70047%
Weighted Average Margin Current		2.68578%	2.72335%	2.70073%
Weighted Average Max Rate Original		11.46276%	11.53305%	11.49055%
Weighted Average Max Rate Prior		11.45395%	11.53022%	11.48420%
Weighted Average Max Rate Current		11.44946%	11.52878%	11.48102%
Weighted Average Min Rate Original		2.68481%	2.72346%	2.70009%
Weighted Average Min Rate Prior		2.68539%	2.72342%	2.70047%
Weighted Average Min Rate Current		2.68578%	2.72335%	2.70073%
Weighted Average Cap Up Original		1.91049%	1.90466%	1.90819%
Weighted Average Cap Up Prior		1.91486%	1.90598%	1.91134%
Weighted Average Cap Up Current		1.91416%	1.90573%	1.91080%
Weighted Average Cap Down Original		1.91049%	1.90466%	1.90819%
Weighted Average Cap Down Prior		1.91486%	1.90598%	1.91134%
Weighted Average Cap Down Current		1.91416%	1.90573%	1.91080%




SERVICING FEES & ADVANCES
SERVICING FEES & ADVANCES

		Group 2	Group 1	Total




Current Servicing Fees		27,639.17	17,960.37	45,599.54
Delinquent Servicing Fees		90,544.40	60,130.23	150,674.63
TOTAL SERVICING FEES		118,183.58	78,090.61	196,274.19


Total Servicing Fees		118,183.58	78,090.61	196,274.19
Compensating Interest		-1,087.50	-746.74	-1,834.24
Delinquent Servicing Fees		-90,544.40	-60,130.23	-150,674.63
COLLECTED SERVICING FEES		26,551.68	17,213.64	43,765.32


Total Advaced Interest		1,425,758.31	967,314.65	2,393,072.96
Total Advaced Principal		34,941.29	30,139.22	65,080.51
Aggregate Advances with respect to this Distribution		1,460,699.60	997,453.87	2,458,153.47






ADDITIONAL COLLATERAL INFORMATION
ADDITIONAL COLLATERAL INFORMATION
		Group 2	Group 1	Total
	Prepayment Interest Shortfall (PPIS)	1,087.50	746.74	1,834.24
	Compensating Interest	(1,087.50)	(746.74)	(1,834.24)
	Net Prepayment Interest Shortfall (PPIS)	0.00	0.00	0.00

	Weighted Average Net Mortgage Rate	5.884374%	6.000696%	5.930655%






Page 8 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Delinquency Report

TOTAL
		< 1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT	Balance		8,595,499.20	210,000.00	1,106,087.44	9,911,586.64
	% Balance		1.37%	0.03%	0.18%	1.58%
	# Loans		22	1	2	25
	% # Loans		1.50%	0.07%	0.14%	1.71%
FORECLOSURE	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
REO	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL	Balance	0.00	8,595,499.20	210,000.00	1,106,087.44	9,911,586.64
	% Balance	0.00%	1.37%	0.03%	0.18%	1.58%
	# Loans	0	22	1	2	25
	% # Loans	0.00%	1.50%	0.07%	0.14%	1.71%

Page 9 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution


GROUP 1
		< 1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT	Balance		3,022,850.56	210,000.00	0.00	3,232,850.56
	% Balance		1.21%	0.08%	0.00%	1.30%
	# Loans		12	1	0	13
	% # Loans		1.37%	0.11%	0.00%	1.48%
FORECLOSURE	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
REO	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL	Balance	0.00	3,022,850.56	210,000.00	0.00	3,232,850.56
	% Balance	0.00%	1.21%	0.08%	0.00%	1.30%
	# Loans	0	12	1	0	13
	% # Loans	0.00%	1.37%	0.11%	0.00%	1.48%

Page 10 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution


GROUP 2
		< 1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT	Balance		5,572,648.64	0.00	1,106,087.44	6,678,736.08
	% Balance		1.48%	0.00%	0.29%	1.77%
	# Loans		10	0	2	12
	% # Loans		1.70%	0.00%	0.34%	2.04%
FORECLOSURE	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
REO	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL	Balance	0.00	5,572,648.64	0.00	1,106,087.44	6,678,736.08
	% Balance	0.00%	1.48%	0.00%	0.29%	1.77%
	# Loans	0	10	0	2	12
	% # Loans	0.00%	1.70%	0.00%	0.34%	2.04%

Page 11 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5

Mortgage Pass-Through Certificates

June 26, 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 12 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5

Mortgage Pass-Through Certificates

June 26, 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 13 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Prepayment Report

VOLUNTARY PREPAYMENTS



		Group 2	Group 1	Total


Current


Number of Paid in Full Loans	2	4	6
Number of Repurchased Loans	0	0	0
Total Number of Loans Prepaid in Full	2	4	6
Curtailments Amount	222,919.40	19,353.15	242,272.55
Paid in Full Balance	954,900.00	765,151.89	1,720,051.89
Repurchased Loans Balance	0.00	0.00	0.00
Total Prepayment Amount	1,177,819.40	784,505.04	1,962,324.44
Cumulative


Number of Paid in Full Loans	6	7	13
Number of Repurchased Loans	2	0	2
Total Number of Loans Prepaid in Full	8	7	15
Paid in Full Balance	5,218,400.00	1,853,311.89	7,071,711.89
Repurchased Loans Balance	1,443,407.97	0.00	1,443,407.97
Curtailments Amount	387,764.77	48,218.34	435,983.11
Total Prepayment Amount	7,049,572.74	1,901,530.23	8,951,102.97

Page 14 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution


VOLUNTARY PREPAYMENTS RATES



		Group 2	Group 1	Total





SMM	0.31%	0.31%	0.31%
3 Months Avg SMM	0.62%	0.25%	0.47%
12 Months Avg SMM	0.62%	0.25%	0.47%
Avg SMM Since Cut-off	0.62%	0.25%	0.47%



CPR	3.67%	3.70%	3.69%
3 Months Avg CPR	7.14%	3.00%	5.52%
12 Months Avg CPR	7.14%	3.00%	5.52%
Avg CPR Since Cut-off	7.14%	3.00%	5.52%



PSA	584.05%	565.05%	576.30%
3 Months Avg PSA Approximation	1,660.45%	657.41%	1,253.58%
12 Months Avg PSA Approximation	1,660.45%	657.41%	1,253.58%
Avg PSA Since Cut-off Approximation	1,660.45%	657.40%	1,253.59%

Page 15 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5

Mortgage Pass-Through Certificates

June 26, 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 16 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5

Mortgage Pass-Through Certificates

June 26, 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

Note

LTV at

Payment

Loan Group

Status

Balance

Amount

Date

Rate

Origination

Original Term

Date

122606973 1

211,250.00

210,441.96

18-May-2006

6.250%

CA - 65.00%

Paid Off - 360

01-Feb-2006

122691028 1

230,000.00

23-May-2006

6.250%

CA - 17.69%

Paid Off - 360

01-Mar-2006

122725581 2

519,900.00

31-May-2006

6.375%

AZ - 79.99%

Paid Off - 360

01-Mar-2006

122846688 1

160,000.00

159,709.93

31-May-2006

6.500%

AZ - 50.00%

Paid Off - 360

01-Apr-2006

122857863 1

165,000.00

01-Jun-2006

6.500%

CA - 61.11%

Paid Off - 360

01-Apr-2006

122889475 2

436,000.00

435,000.00

16-May-2006

6.375%

CA - 80.00%

Paid Off - 360

01-Mar-2006

TOTAL

1,722,150.00

1,720,051.89

Page 17 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 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





	Special Hazard Loss Coverage Amt				6,280,773.77
	Fraud Loss Coverage Amt				19,056,831.00
	Bankruptcy Loss Coverage Amt				194,629.00

Page 18 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 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 19 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5

Mortgage Pass-Through Certificates

June 26, 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 20 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5

Mortgage Pass-Through Certificates

June 26, 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 21 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Triggers and Adj. Cert. Report

TRIGGER EVENTS

Group 2

Group 1

Total

Has Optional Termination Date Reached

Has Sr. Prepay Stepdown Condition Occurred

Has Spl. Haz. Cov. Term. Date Occured

Has Fraud Loss Coverage Term. Date Occured

Has Bankrpt Loss Cov. Term. Date Occured

ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK

ADDITIONAL INFORMATION

Group 2

Group 1

Total

Senior Percentage

92.867514%

92.918472%

92.887789%

Subordinate Percentage

7.132486%

7.081528%

7.112211%

Senior Prepayment Percentage

100.000000%

Subordinate Prepayment Percentage

0.000000%

Page 22 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
	Group 2	Group 1	Total
Current Scheduled Payments	2,015,290.85	1,368,327.67	3,383,618.53
Current Scheduled Payments 1 Month Prior	2,028,968.99	1,373,011.76	3,401,980.76
Current Scheduled Payments 2 Month Prior	2,043,063.32	1,377,157.53	3,420,220.85
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	1,137.50	1,137.50	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 23 of 23

IndyMac INDX Mortgage Loan Trust 2006-AR5 10-D