GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

External Parties

Table of Contents

Page

Seller

1. Certificate Payment Report

Goldman Sachs Mortgage Securities

2. Collection Account Report

3. Credit Enhancement Report

Servicer(s)

4. Collateral Report

Avelo Mortgage LLC

5. Delinquency Report

Specialized Loan Servicing LLC

6. REO Report

7. Foreclosure Report

Underwriter(s)

8. Prepayment Report

Goldman Sachs & Co.

9. Prepayment Detail Report

10. Realized Loss Report

Swap Provider

11. Realized Loss Detail Report

Goldman Sachs Mitsui Marine

12. Triggers and Adj. Cert. Report

13. Additional Certificate Report

14. Other Related Information

Total Number of Pages

Dates

Contacts

Cut-Off Date:

February 01, 2007

Mei Nghia

Close Date:

February 28, 2007

Administrator

First Distribution Date:

March 26, 2007

(714) 247-6248

Mei.nghia@db.com

Address:

Distribution Date:

May 25, 2007

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

Record Date:

April 30, 2007

Factor Information:

(800) 735-7777

May 24, 2007

Main Phone Number:

(714) 247-6000

Determination Date:

May 16, 2007

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

Page 1 of 25

GSAA Home Equity Trust 2007-S1



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

Certificate Payment Report
Current Period Distribution - REMIC IV
			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	277,251,000.00	263,509,641.80	1,205,556.61	5,466,729.63	6,672,286.24	0.00	0.00	258,042,912.17
A-1	SR	277,251,000.00	263,509,641.80	1,205,556.61	5,466,729.63	6,672,286.24	0.00	0.00	258,042,912.17
A-IO	NTL/SR	0.00	0.00	573,290.00	0.00	573,290.00	0.00	0.00	0.00
R	NOF/RES	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
X	NOF	21,189,360.32	21,189,265.58	753,217.30	0.00	753,217.30	0.00	0.00	21,189,265.58
P	NOF	0.00	0.00	4,455.80	0.00	4,455.80	0.00	0.00	0.00
X-1	NOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00





Total		298,440,360.32	284,698,907.38	2,536,519.71	5,466,729.63	8,003,249.34	0.00	0.00	279,232,177.75
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	04/25/07	05/24/07	A-Act/360	362246AA8	277,251,000.00	950.437119	4.348250	19.717619	24.065869	930.719500
A-1	04/25/07	05/24/07	A-Act/360	362246AA8	277,251,000.00	950.437119	4.348250	19.717619	24.065869	930.719500
A-IO	04/01/07	04/30/07	F-30/360	362246AB6	114,658,000.00	1,000.000000	5.000000	0.000000	5.000000	823.527360
R	04/01/07	04/30/07	F-30/360	362246AF7	0.00	0.000000	0.000000	0.000000	0.000000	0.000000
X	04/01/07	04/30/07	F-30/360	362246AC4	21,189,360.32	999.995529	35.546958	0.000000	35.546958	999.995529
P	04/01/07	04/30/07	F-30/360	362246AE0	0.00	0.000000	0.000000	0.000000	0.000000	0.000000
X-1	04/01/07	04/30/07	F-30/360	362246AD2	0.00	0.000000	0.000000	0.000000	0.000000	0.000000







Page 2 of 25

GSAA Home Equity Trust 2007-S1



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


Distribution to Date - REMIC IV
									Current


	Original		Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal

Class	Face Value	Interest	Principal	Principal	Principal	Distribution	Loss	Interest	Balance
(1)	(2)	(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	277,251,000.00	3,546,564.77	18,909,400.91	298,686.92	19,208,087.83	22,754,652.60	0.00	0.00	258,042,912.17
A-IO	0.00	1,719,870.00	0.00	0.00	0.00	1,719,870.00	0.00	0.00	0.00
R	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
X	21,189,360.32	2,527,746.61	0.00	0.00	94.74	2,527,841.35	0.00	0.00	21,189,265.58
P	0.00	8,030.81	0.00	0.00	0.00	8,030.81	0.00	0.00	0.00
X-1	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00





Total	298,440,360.32	7,802,212.19	18,909,400.91	298,686.92	19,208,182.57	27,010,394.76	0.00	0.00	279,232,177.75


Interest Detail - REMIC IV
	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	5.49000%	263,509,641.80	1,205,556.61	0.00	0.00	0.00	1,205,556.61	1,205,556.61	0.00
A-IO	6.00000%	114,658,000.00	573,290.00	0.00	0.00	0.00	573,290.00	573,290.00	0.00
R	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
X	42.65654%	21,189,265.58	0.00	0.00	0.00	0.00	0.00	753,217.30	0.00
P	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	4,455.80	0.00
X-1	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00





Total		399,356,907.38	1,778,846.61	0.00	0.00	0.00	1,778,846.61	2,536,519.71	0.00



Page 3 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Collection Account Report

SUMMARY

Total

Principal Collections

5,542,539.80

Principal Withdrawals

0.00

Principal Other Accounts

0.00

TOTAL NET PRINCIPAL

5,542,539.80

Interest Collections

4,764,480.77

Interest Withdrawals

-0.00

Interest Other Accounts

23,926.78

Interest Fees

-76,380.24

TOTAL NET INTEREST

4,712,027.31

TOTAL AVAILABLE FUNDS FOR DISTRIBUTION

8,003,249.34

PRINCIPAL - COLLECTIONS

Total

Scheduled Principal Received

98,390.49

Prepayments In Full

5,221,323.77

Curtailments

147,015.37

Liquidations

0.00

Insurance Principal

0.00

Repurchased Principal Amounts

0.00

Other Principal

0.00

Principal Realized Loss

-0.00

Delinquent Principal

-75,810.17

Advanced Principal

75,810.17

TOTAL PRINCIPAL COLLECTED

5,542,539.80

PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK

PRINCIPAL - OTHER ACCOUNTS

Total

TOTAL OTHER ACCOUNTS PRINCIPAL

0.00

Page 4 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

INTEREST - COLLECTIONS

Total

Scheduled Interest

2,684,095.97

Liquidation Interest

0.00

Repurchased Interest

0.00

Insurance Interest

0.00

Other Interest

0.00

Relief Act Interest Shortfalls

-0.00

Prepayment Interest Shortfalls

-20,014.00

Compensating Interest

20,014.00

Delinquent Interest

-2,175,507.61

Interest Loss

-0.00

Interest Advanced

2,080,384.80

TOTAL INTEREST COLLECTED

4,764,480.77

INTEREST - WITHDRAWALS

Total

Nonrecoverable Advances

0.00

Servicer Expenses

0.00

TOTAL INTEREST WITHDRAWALS

0.00

INTEREST - OTHER ACCOUNTS

Total

Prepayment Charges

4,455.80

Net Swap Receipt/(Payment)

19,470.98

. a) Swap Payment

1,131,480.39

. b) Counterparty Payment

1,150,951.37

. c) Swap Termination Payment

0.00

. d) Defaulted Swap Termination Payment

0.00

TOTAL INTEREST OTHER ACCOUNTS

23,926.78

INTEREST FEES

Total

Current Servicing Fees

23,501.74

Master Servicing Fees

2,372.49

Certificate Insurance Fees

50,506.01

TOTAL INTEREST OTHER FEES

76,380.24

Page 5 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Credit Enhancement Report

ACCOUNTS

Excess Reserve Account

Beginning Account Balance

0.00

Account Deposit

0.00

Account Withdrawal

0.00

Ending Account Balance

0.00

Supplemental Interest Account

Beginning Account Balance

0.00

Account Deposit

1,150,951.37

Account Withdrawal

(1,131,480.39)

Net Swap Amount

(19,470.98)

Ending Account Balance

0.00

INSURANCE

Total

Amount Paid by Certificate Insurer

0.00

Certificate Insurance paid under the policy and

0.00

and not yet reimbursed

STRUCTURAL FEATURES

Total

Overcollateralization Amount

21,189,265.58

Specified Overcollateralized Amount

21,189,265.58

Overcollateralization Deficiency Amount

0.00

Overcollateralization Release Amount

0.00

Total Monthly Excess Spread

733,746.32

Page 6 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Collateral Report

COLLATERAL

Total

Loan Count:

Original

6,204

Prior

5,955

Prefunding

Scheduled Paid Offs

-0

Full Voluntary Prepayments

-103

Repurchases

-0

Liquidations

-0

Current

5,852

Principal Balance:

Original

298,440,360.32

Prior

284,698,907.38

Prefunding

0.00

Scheduled Principal

-98,390.49

Partial Prepayments

-147,015.37

Full Voluntary Prepayments

-5,221,323.77

Repurchases

-0.00

Liquidations

-0.00

Current

279,232,177.75

PREFUNDING

SPACE INTENTIONALLY LEFT BLANK

Page 7 of 25

GSAA Home Equity Trust 2007-S1



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


CHARACTERISTICS
CHARACTERISTICS

							Total
Weighted Average Coupon Original							11.33469%
Weighted Average Coupon Prior							11.32851%
Weighted Average Coupon Current							11.31835%
Weighted Average Months to Maturity Original							261
Weighted Average Months to Maturity Prior							259
Weighted Average Months to Maturity Current							258
Weighted Avg Remaining Amortization Term Original							349
Weighted Avg Remaining Amortization Term Prior							348
Weighted Avg Remaining Amortization Term Current							347
Weighted Average Seasoning Original							6.15
Weighted Average Seasoning Prior							7.12
Weighted Average Seasoning Current							8.11

Page 8 of 25

GSAA Home Equity Trust 2007-S1



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


ARM CHARACTERISTICS
ARM CHARACTERISTICS

							Total
Weighted Average Margin Original							0.00000%
Weighted Average Margin Prior							0.00000%
Weighted Average Margin Current							0.00000%
Weighted Average Max Rate Original							0.00000%
Weighted Average Max Rate Prior							0.00000%
Weighted Average Max Rate Current							0.00000%
Weighted Average Min Rate Original							0.00000%
Weighted Average Min Rate Prior							0.00000%
Weighted Average Min Rate Current							0.00000%
Weighted Average Cap Up Original							0.00000%
Weighted Average Cap Up Prior							0.00000%
Weighted Average Cap Up Current							0.00000%
Weighted Average Cap Down Original							0.00000%
Weighted Average Cap Down Prior							0.00000%
Weighted Average Cap Down Current							0.00000%




SERVICING FEES & ADVANCES
SERVICING FEES & ADVANCES

							Total




Current Servicing Fees							23,501.74
Delinquent Servicing Fees							95,122.81
TOTAL SERVICING FEES							118,624.56


Compensating Interest							-20,014.00
Delinquent Servicing Fees							-95,122.81
COLLECTED SERVICING FEES							3,487.75


Total Advanced Interest							2,080,384.80
Total Advanced Principal							75,810.17
Aggregate Advances with respect to this Distribution							0.00
Outstanding Aggregate Advances - SLS							258.20
Outstanding Aggregate Advances - Avelo							0.00
Outstanding Aggregate Advances - Wells Fargo							0.00




ADDITIONAL COLLATERAL INFORMATION
ADDITIONAL COLLATERAL INFORMATION
							Total
Prepayment Interest Shortfall (PPIS)							20,014.00
Compensating Interest							(20,014.00)
Net Prepayment Interest Shortfall (PPIS)							0.00


Ending Pool Stated Principal Balance							279,232,177.75

Market Value of the REO Property							0.00





Page 9 of 25

GSAA Home Equity Trust 2007-S1



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

Delinquency Report


TOTAL	0-30 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181 +	TOTAL
	0-30 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181 +	TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
		5,421,225.82	2,786,762.07	1,248,619.34	0.00	0.00	0.00	9,456,607.23
		1.94%	1.00%	0.45%	0.00%	0.00%	0.00%	3.39%
		91	37	26	0	0	0	154
		1.56%	0.63%	0.44%	0.00%	0.00%	0.00%	2.63%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY Balance % Balance # Loans % # Loans
	207,553.98	0.00	0.00	24,868.75	0.00	0.00	0.00	232,422.73
	0.07%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.08%
	5	0	0	1	0	0	0	6
	0.09%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.10%
REO Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	207,553.98	5,421,225.82	2,786,762.07	1,273,488.09	0.00	0.00	0.00	9,689,029.96
	0.07%	1.94%	1.00%	0.46%	0.00%	0.00%	0.00%	3.47%
	5	91	37	27	0	0	0	160
	0.09%	1.56%	0.63%	0.46%	0.00%	0.00%	0.00%	2.73%

Page 10 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 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 11 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 25, 2007 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 12 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Prepayment Report

VOLUNTARY PREPAYMENTS

Total

Current

Number of Paid in Full Loans

103

Number of Repurchased Loans

Total Number of Loans Prepaid in Full

103

Curtailments Amount

147,015.37

Paid in Full Balance

5,221,323.77

Repurchased Loans Balance

0.00

Total Prepayment Amount

5,368,339.14

Cumulative

Number of Paid in Full Loans

304

Number of Repurchased Loans

Total Number of Loans Prepaid in Full

352

Paid in Full Balance

15,826,658.15

Repurchased Loans Balance

2,664,886.12

Curtailments Amount

417,949.76

Total Prepayment Amount

18,909,494.03

Page 13 of 25

GSAA Home Equity Trust 2007-S1



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


VOLUNTARY PREPAYMENTS RATES



		Total





SMM	1.89%
3 Months Avg SMM	2.16%
12 Months Avg SMM	2.16%
Avg SMM Since Cut-off	2.16%



CPR	20.43%
3 Months Avg CPR	23.05%
12 Months Avg CPR	23.05%
Avg CPR Since Cut-off	23.05%



PSA	1,258.82%
3 Months Avg PSA Approximation	1,617.19%
12 Months Avg PSA Approximation	1,617.19%
Avg PSA Since Cut-off Approximation	1,617.19%

Page 14 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 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 15 of 25

GSAA Home Equity Trust 2007-S1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 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

11603727 1		142,366.00	141,886.74	24-Apr-2007	10.375%	MD - 20.00%	Paid Off - 360	01-Sep-2006
11603727 1		142,366.00	141,886.74	24-Apr-2007	10.375%	MD - 20.00%	Paid Off - 360	01-Sep-2006
11623691 1		98,000.00	97,826.87	10-Apr-2007	13.875%	OR - 25.00%	Paid Off - 180	01-Aug-2006
11623709 1		36,000.00	35,811.38	05-Apr-2007	9.125%	MN - 15.00%	Paid Off - 180	01-Aug-2006
11629243 1		36,100.00	35,411.76	16-Apr-2007	12.000%	WA - 20.00%	Paid Off - 360	01-Sep-2006
11646528 1		105,000.00	100,672.71	16-Apr-2007	11.125%	FL - 20.00%	Paid Off - 360	01-Sep-2006
11656642 1		55,650.00	22,824.94	23-Apr-2007	12.000%	OR - 20.00%	Paid Off - 360	01-Sep-2006
11670288 1		34,000.00	33,854.40	23-Apr-2007	9.375%	CT - 20.00%	Paid Off - 360	01-Sep-2006
11685054 1		200,000.00	199,088.67	09-Apr-2007	8.250%	NY - 26.39%	Paid Off - 180	01-Oct-2006
11687738 1		38,500.00	38,119.92	19-Apr-2007	10.250%	PA - 10.00%	Paid Off - 180	01-Sep-2006
11703535 1		23,750.00	23,683.86	27-Apr-2007	14.000%	GA - 25.00%	Paid Off - 180	01-Sep-2006
11712247 1		59,900.00	59,750.38	26-Apr-2007	11.125%	OH - 10.00%	Paid Off - 360	01-Oct-2006
11714458 1		24,000.00	23,966.33	19-Apr-2007	14.000%	OR - 30.00%	Paid Off - 180	01-Oct-2006
11719655 1		22,950.00	22,672.71	10-Apr-2007	10.000%	ID - 15.00%	Paid Off - 360	01-Oct-2006
11723723 1		24,200.00	24,112.45	09-Apr-2007	9.375%	IL - 20.00%	Paid Off - 360	01-Oct-2006
11725769 1		65,400.00	65,311.20	11-Apr-2007	13.875%	OR - 30.03%	Paid Off - 180	01-Oct-2006
11729753 1		33,500.00	33,411.49	17-Apr-2007	11.500%	MS - 20.00%	Paid Off - 360	01-Sep-2006
11741154 1		81,398.00	81,287.51	11-Apr-2007	13.875%	UT - 30.00%	Paid Off - 180	01-Oct-2006
11756129 1		45,750.00	45,644.66	10-Apr-2007	11.500%	FL - 15.00%	Paid Off - 180	01-Oct-2006
11792405 1		41,000.00	40,910.26	12-Apr-2007	11.000%	PA - 20.00%	Paid Off - 360	01-Nov-2006
11810512 1		46,800.00	46,742.76	16-Apr-2007	13.625%	TX - 20.00%	Paid Off - 180	01-Nov-2006
39028311 1		48,750.00	48,360.14	16-Apr-2007	14.750%	FL - 15.01%	Paid Off - 360	01-Mar-2006
40106015 1		38,650.00	38,477.93	12-Apr-2007	9.625%	FL - 14.99%	Paid Off - 180	01-Aug-2006
40106817 1		180,750.00	180,275.90	16-Apr-2007	13.750%	CA - 25.00%	Paid Off - 360	01-Aug-2006
40107351 1		37,000.00	36,924.90	25-Apr-2007	13.750%	MI - 14.65%	Paid Off - 180	01-Jul-2006
40107575 1		65,250.00	64,823.97	11-Apr-2007	8.375%	RI - 15.00%	Paid Off - 360	01-Jul-2006
40108573 1		27,000.00	26,879.76	05-Apr-2007	9.625%	OR - 15.00%	Paid Off - 180	01-Aug-2006
40108631 1		26,000.00	24,759.07	18-Apr-2007	10.375%	AL - 10.00%	Paid Off - 360	01-Mar-2006
40109191 1		37,950.00	37,764.04	18-Apr-2007	11.000%	NV - 15.00%	Paid Off - 180	01-Apr-2006
40111825 1		33,990.00	33,887.94	24-Apr-2007	13.250%	FL - 20.00%	Paid Off - 360	01-Apr-2006
40114076 1		54,250.00	52,821.36	30-Apr-2007	12.805%	TX - 35.00%	Paid Off - 180	01-Apr-2006
40114316 1		32,250.00	25,077.96	30-Apr-2007	13.125%	FL - 25.00%	Paid Off - 360	01-Apr-2006
40115743 1		28,180.00	28,067.57	05-Apr-2007	12.250%	MN - 20.00%	Paid Off - 360	01-May-2006
40116527 1		34,250.00	34,139.57	16-Apr-2007	12.545%	FL - 25.00%	Paid Off - 360	01-May-2006
40117202 1		34,200.00	34,103.14	05-Apr-2007	13.125%	MD - 24.98%	Paid Off - 360	01-May-2006
40117269 1		25,000.00	24,619.06	24-Apr-2007	11.375%	FL - 10.00%	Paid Off - 180	01-May-2006
40117285 1		12,800.00	12,784.27	27-Apr-2007	16.375%	TX - 20.00%	Paid Off - 360	01-Jun-2006
40120073 1		27,500.00	27,426.84	23-Apr-2007	12.995%	FL - 25.00%	Paid Off - 360	01-Jun-2006
40120370 1		11,925.00	11,898.92	27-Apr-2007	13.875%	PA - 15.00%	Paid Off - 360	01-Jun-2006
40122111 1		51,600.00	51,446.58	05-Apr-2007	12.500%	FL - 20.00%	Paid Off - 360	01-Jun-2006
40122764 1		54,600.00	54,413.64	24-Apr-2007	11.875%	FL - 20.00%	Paid Off - 360	01-Jun-2006


Page 16 of 25

GSAA Home Equity Trust 2007-S1



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


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


Loan Number		Original			Current	State &	Type Prepayment	First


&	Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Payment

Loan Group	Status	Balance	Amount	Date	Rate	Origination	Original Term	Date

40125213 1		24,500.00	24,034.40	06-Apr-2007	12.250%	IN - 10.00%	Paid Off - 360	01-Jul-2006
40125213 1		24,500.00	24,034.40	06-Apr-2007	12.250%	IN - 10.00%	Paid Off - 360	01-Jul-2006
40125544 1		29,400.00	27,279.53	09-Apr-2007	12.125%	FL - 15.00%	Paid Off - 360	01-Jul-2006
40126039 1		27,998.00	27,928.86	09-Apr-2007	12.375%	IN - 20.00%	Paid Off - 360	01-Aug-2006
40128944 1		20,580.00	20,530.50	12-Apr-2007	12.500%	IL - 20.00%	Paid Off - 360	01-Aug-2006
40130528 1		57,534.00	57,211.25	10-Apr-2007	8.500%	UT - 19.67%	Paid Off - 180	01-Aug-2006
40130874 1		110,750.00	110,305.95	13-Apr-2007	10.125%	MO - 12.37%	Paid Off - 360	01-Aug-2006
40131427 1		105,000.00	104,738.39	30-Apr-2007	13.875%	AZ - 25.00%	Paid Off - 180	01-Aug-2006
40147886 1		43,700.00	43,587.61	25-Apr-2007	10.990%	VT - 20.00%	Paid Off - 180	01-Oct-2006
40147977 1		21,300.00	21,225.53	09-Apr-2007	10.250%	UT - 20.00%	Paid Off - 180	01-Oct-2006
40148728 1		35,480.00	35,279.52	18-Apr-2007	9.875%	FL - 20.00%	Paid Off - 180	01-Nov-2006
40150724 1		239,200.00	238,288.29	19-Apr-2007	9.125%	CA - 15.00%	Paid Off - 180	01-Oct-2006
40151870 1		28,100.00	28,078.55	16-Apr-2007	16.375%	GA - 20.00%	Paid Off - 360	01-Oct-2006
40152399 1		70,950.00	70,781.63	23-Apr-2007	16.250%	NV - 14.87%	Paid Off - 180	01-Sep-2006
40154395 1		12,400.00	12,355.02	23-Apr-2007	8.600%	MI - 10.00%	Paid Off - 180	01-Nov-2006
40155012 1		18,600.00	18,571.29	10-Apr-2007	12.600%	MI - 20.00%	Paid Off - 180	01-Nov-2006
40155707 1		17,800.00	17,756.40	12-Apr-2007	9.600%	NV - 10.00%	Paid Off - 180	01-Dec-2006
40157455 1		27,500.00	27,464.06	18-Apr-2007	12.500%	FL - 16.87%	Paid Off - 180	01-Dec-2006
40159006 1		90,000.00	89,754.75	18-Apr-2007	9.975%	MD - 30.00%	Paid Off - 180	01-Nov-2006
40159212 1		87,200.00	87,065.54	26-Apr-2007	12.600%	NJ - 24.22%	Paid Off - 180	01-Nov-2006
40160723 1		32,000.00	31,921.25	30-Apr-2007	13.625%	RI - 20.00%	Paid Off - 180	01-Oct-2006
40160921 1		107,575.00	107,082.06	17-Apr-2007	8.375%	AZ - 20.00%	Paid Off - 360	01-Nov-2006
40319238 1		50,500.00	49,931.51	18-Apr-2007	10.250%	WA - 8.63%	Paid Off - 360	01-Nov-2006
40321069 1		63,757.00	63,616.58	30-Apr-2007	11.000%	FL - 20.00%	Paid Off - 360	01-Nov-2006
40321481 1		40,500.00	40,366.17	20-Apr-2007	9.750%	AZ - 10.00%	Paid Off - 180	01-Nov-2006
40321960 1		41,654.00	40,724.33	25-Apr-2007	8.250%	UT - 10.00%	Paid Off - 180	01-Nov-2006
40341448 1		85,600.00	85,407.88	30-Apr-2007	11.625%	CA - 20.00%	Paid Off - 180	01-Dec-2006
40587859 1		40,148.00	40,062.36	23-Apr-2007	10.250%	AZ - 20.00%	Paid Off - 180	01-Dec-2006
89906424 1		15,000.00	14,953.96	30-Apr-2007	11.000%	TX - 10.00%	Paid Off - 180	01-Oct-2006
90154253 1		14,500.00	14,499.76	25-Apr-2007	11.500%	VA - 10.00%	Paid Off - 360	01-Oct-2006
90216714 1		29,800.00	29,389.60	30-Apr-2007	11.500%	TX - 14.96%	Paid Off - 180	01-Oct-2006
90341165 1		10,000.00	9,829.30	24-Apr-2007	10.000%	NC - 10.99%	Paid Off - 360	01-Oct-2006
90356973 1		32,000.00	31,635.88	30-Apr-2007	12.750%	MA - 10.00%	Paid Off - 360	01-Oct-2006
90358599 1		25,000.00	24,724.99	30-Apr-2007	12.000%	MA - 10.00%	Paid Off - 360	01-Oct-2006
90375262 1		37,000.00	36,893.26	30-Apr-2007	11.250%	MD - 6.24%	Paid Off - 360	01-Oct-2006
90402322 1		21,200.00	20,496.57	13-Apr-2007	11.250%	WA - 10.00%	Paid Off - 120	01-Oct-2006
90422163 1		21,300.00	21,298.96	20-Apr-2007	12.375%	MD - 14.95%	Paid Off - 360	01-Oct-2006
90464637 1		46,000.00	45,893.73	30-Apr-2007	10.750%	NY - 10.00%	Paid Off - 180	01-Nov-2006
90483157 1		25,000.00	25,000.00	19-Apr-2007	11.000%	VA - 10.00%	Paid Off - 360	01-Nov-2006
90505900 1		15,000.00	14,953.96	30-Apr-2007	11.000%	TX - 10.00%	Paid Off - 180	01-Oct-2006
90573692 1		28,100.00	28,086.51	30-Apr-2007	10.250%	FL - 10.01%	Paid Off - 360	01-Nov-2006
90650649 1		20,500.00	20,499.15	06-Apr-2007	11.750%	MD - 10.00%	Paid Off - 360	01-Nov-2006
90670423 1		25,800.00	25,775.00	25-Apr-2007	12.125%	CO - 14.96%	Paid Off - 360	01-Dec-2006
90670423 1			25,775.00		12.125%	CO - 14.96%	Paid Off - 360

Page 17 of 25

GSAA Home Equity Trust 2007-S1



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


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


Loan Number		Original			Current	State &	Type Prepayment	First


&	Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Payment

Loan Group	Status	Balance	Amount	Date	Rate	Origination	Original Term	Date

90684507 1		37,500.00	37,500.00	30-Apr-2007	12.000%	FL - 10.00%	Paid Off - 360	01-Dec-2006
90684507 1		37,500.00	37,500.00	30-Apr-2007	12.000%	FL - 10.00%	Paid Off - 360	01-Dec-2006
90737818 1		35,000.00	34,429.36	30-Apr-2007	9.000%	MD - 10.00%	Paid Off - 180	01-Nov-2006
90853227 1		94,000.00	93,999.63	30-Apr-2007	11.625%	MN - 20.00%	Paid Off - 360	01-Dec-2006
90854308 1		216,000.00	215,915.62	18-Apr-2007	9.375%	CA - 14.21%	Paid Off - 360	01-Dec-2006
90909672 1		116,000.00	116,000.00	30-Apr-2007	10.750%	CA - 10.00%	Paid Off - 360	01-Dec-2006
90958331 1		24,500.00	90.00	30-Apr-2007	12.000%	CA - 10.00%	Paid Off - 360	01-Jan-2007
90975525 1		16,300.00	16,300.00	16-Apr-2007	10.000%	OR - 10.02%	Paid Off - 360	01-Jan-2007
91126052 1		57,200.00	57,166.05	30-Apr-2007	12.250%	CO - 20.00%	Paid Off - 360	01-Jan-2007
100385145 1		22,050.00	22,010.37	19-Apr-2007	12.625%	VA - 19.96%	Paid Off - 180	01-Oct-2006
100429299 1		138,350.00	138,113.09	03-Apr-2007	12.125%	MD - 25.00%	Paid Off - 180	01-Nov-2006
100559558 1		77,050.00	66,664.34	10-Apr-2007	10.750%	LA - 42.81%	Paid Off - 180	01-Jan-2007
100560580 1		45,800.00	45,737.72	19-Apr-2007	12.500%	MI - 20.00%	Paid Off - 180	01-Dec-2006
100560705 1		38,700.00	38,659.76	26-Apr-2007	12.500%	MO - 20.00%	Paid Off - 180	01-Jan-2007
100560721 1		100,000.00	99,786.68	05-Apr-2007	10.250%	VA - 12.20%	Paid Off - 180	01-Dec-2006
100607712 1		29,800.00	29,787.67	02-Apr-2007	16.500%	MN - 20.00%	Paid Off - 360	01-Jan-2007
100612209 1		29,200.00	29,151.33	09-Apr-2007	12.250%	OK - 20.00%	Paid Off - 180	01-Nov-2006
100612266 1		80,400.00	80,263.08	04-Apr-2007	12.150%	FL - 20.00%	Paid Off - 180	01-Nov-2006
100612530 1		75,000.00	74,789.14	12-Apr-2007	11.875%	MI - 20.00%	Paid Off - 180	01-Oct-2006
203109509 1		43,995.00	43,881.33	23-Apr-2007	12.000%	WA - 10.00%	Paid Off - 180	01-Oct-2006
203131990 1		48,500.00	48,409.83	30-Apr-2007	11.750%	CA - 10.00%	Paid Off - 180	01-Nov-2006
203163274 1		25,500.00	25,445.37	30-Apr-2007	11.500%	FL - 10.00%	Paid Off - 180	01-Dec-2006


TOTAL	5,322,930.00	5,221,323.77

Page 18 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Realized Loss Report

COLLATERAL REALIZED LOSSES

Total

Current

Subsequent Recoveries

0.00

Number of Loans Liquidated

Collateral Principal Realized Loss/(Gain) Amount

0.00

Collateral Interest Realized Loss/(Gain) Amount

0.00

Net Liquidation Proceeds

0.00

Cumulative

Number of Loans Liquidated

Collateral Realized Loss/(Gain) Amount

0.00

Net Liquidation Proceeds

0.00

Cumulative Subsequent Recoveries

0.00

Page 19 of 25

GSAA Home Equity Trust 2007-S1



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


DEFAULT SPEEDS

								Total




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


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


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


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

Page 20 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 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.

Page 21 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 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)

TOTAL

Page 22 of 25

GSAA Home Equity Trust 2007-S1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Triggers and Adj. Cert. Report

TRIGGER EVENTS

Total

Has the Stepdown Date Occurred?

Does the Trigger Event Exist?

(A Trigger Event Exists if either (i) or (ii) are true)

(i) The quotient of ( (A) > (B) )

. (A) 60+ Day Delinquency % (1) / (2)

0.784303%

. (1) 60+ Day Rolling Delinquency Balance

2,190,025.13

. (2) Stated Principal Balance

279,232,177.75

. (B) 59.86% of Senior Enhancement %

4.455196%

(ii) The quotient of ( (A) > (B) )

(Into effect after December 2008)

. (A) Cumulative Loss Event Loss % (1) / (2)

0.000000%

. (1) Aggregate Cumulative Realized Loss

0.00

. (2) Cutoff Date Pool Principal Balance

298,440,360.32

. (B) Applicable Loss %

100.000000%

ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK

ADDITIONAL INFORMATION

Total

Net Monthly Excess Cashflow

0.00

Net Monthly Excess Cashflow Alloc to Losses

0.00

Net Monthly Excess Cashflow Alloc to Unpaid Int

0.00

Basis Risk CarryForward Amount Paid

0.00

Basis Risk CarryForward Amount Unpaid

0.00

LIBOR For Current Period

5.32000%

LIBOR Rate Determination Date

04/23/2007

LIBOR For Next Period

5.32000%

Next LIBOR Rate Determination Date

05/23/2007

Page 23 of 25

GSAA Home Equity Trust 2007-S1



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

Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

		Next Pass Through Rate	NET WAC Shortfall Prior (1)	Int on Prior SF (2)


CLASS
	A-1	5.49000%	$0.00	$0.00
	A-IO	6.00000%	$0.00	$0.00
	R	0.00000%	$0.00	$0.00
	X	0.00000%	$0.00	$0.00
	P	0.00000%	$0.00	$0.00
	X-1	0.00000%	$0.00	$0.00




Page 24 of 25

GSAA Home Equity Trust 2007-S1



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

Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
							Total
Current Scheduled Payments							2,782,486.46
Current Scheduled Payments 1 Month Prior							2,835,985.88
Current Scheduled Payments 2 Month Prior							2,917,923.69
Current Scheduled Payments 3 Month Prior							0.00
Current Scheduled Payments 4 Month Prior							0.00
Current Scheduled Payments 5 Month Prior							0.00
Current Scheduled Payments 6 Month Prior							0.00
Current Scheduled Payments 7 Month Prior							0.00
Current Scheduled Payments 8 Month Prior							0.00
Current Scheduled Payments 9 Month Prior							0.00
Current Scheduled Payments 10 Month Prior							0.00
Current Scheduled Payments 11 Month Prior							0.00

Delinquent 60+ Scheduled Payments							45,333.99
Delinq. 60+ Sched. Pmnts, 1 Month Prior							22,639.27
Delinq. 60+ Sched. Pmnts, 2 Month Prior							868.40
Delinq. 60+ Sched. Pmnts, 3 Month Prior							0.00
Delinq. 60+ Sched. Pmnts, 4 Month Prior							0.00
Delinq. 60+ Sched. Pmnts, 5 Month Prior							0.00
Delinq. 60+ Sched. Pmnts, 6 Month Prior							0.00
Delinq. 60+ Sched. Pmnts, 7 Month Prior							0.00
Delinq. 60+ Sched. Pmnts, 8 Month Prior							0.00
Delinq. 60+ Sched. Pmnts, 9 Month Prior							0.00
Delinq. 60+ Sched. Pmnts, 10 Month Prior							0.00
Delinq. 60+ Sched. Pmnts, 11 Month Prior							0.00





Page 25 of 25

GSAA Home Equity Trust 2007-S1 10-D