Content:

Pages

Contact Information:

Statement to Certificate Holders

Analyst:

Brian Scheff

714.259.6278

Statement to Certificate Holders (Factors)

brian.scheff@abnamro.com

Pool/Non-Pool Funds Cash Reconciliation

Administrator:

Brian Whiteley

312.992.1743

Cash Reconciliation Summary

brian.whiteley@abnamro.com

Pool Detail and Performance Indicators

LaSalle Website:

www.etrustee.net

Bond Interest Reconciliation Part I

Bond Interest Reconciliation Part II

Bond Principal Reconciliation

Outside Parties To The Transaction

Rating Information

End of Month Balance Reporting

15 Month Loan Status Summary Part I

12-13

15 Month Loan Status Summary Part II

14-15

15 Month Historical Payoff Summary

16-17

Prepayment Summary

Current Period Realized Loss Detail

Historical Realized Loss Summary

Realized Loss Summary

Servicemembers Civil Relief Act

Material Breaches Detail

Modified Loan Detail

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

ABN AMRO Acct : 723581.1

Payment Date:

25-Apr-06

Prior Payment:

N/A

Next Payment:

25-May-06

Record Date:

7-Apr-06

Issuer: Merrill Lynch & Company- Asset Backed Sec. Group

Distribution Count:

Depositor: Merrill Lynch Mortgage Investors Inc.

Underwriter: Merrill Lynch & Company- Asset Backed Sec. Group

Closing Date:

7-Apr-06

Master Servicer: Wilshire Credit Corporation

First Pay. Date:

Rating Agency: Moody's Investors Service, Inc./Standard & Poor's

25-Apr-06

Rated Final

Payment Date:

25-Mar-37

Determination

Date:

14-Apr-06

24-Apr-2006 19:10

A-1

59020VAA1

248,060,000.00

8,788,336.89

0.00

239,271,663.11

607,747.00

0.00

4.9000000000%

A-2

59020VAB9

67,314,000.00

0.00

67,314,000.00

166,938.72

0.00

4.9600000000%

A-3

59020VAC7

74,812,000.00

0.00

74,812,000.00

187,404.06

0.00

5.0100000000%

A-4

59020VAD5

41,860,000.00

0.00

41,860,000.00

106,952.30

0.00

5.1100000000%

M-1

59020VAE3

23,939,000.00

0.00

23,939,000.00

62,002.01

0.00

5.1800000000%

M-2

59020VAF0

22,229,000.00

0.00

22,229,000.00

57,684.26

0.00

5.1900000000%

M-3

59020VAG8

12,824,000.00

0.00

12,824,000.00

33,534.76

0.00

5.2300000000%

M-4

59020VAH6

11,399,000.00

0.00

11,399,000.00

30,321.34

0.00

5.3200000000%

M-5

59020VAJ2

10,829,000.00

0.00

10,829,000.00

28,913.43

0.00

5.3400000000%

M-6

59020VAK9

9,974,000.00

0.00

9,974,000.00

26,979.67

0.00

5.4100000000%

B-1

59020VAL7

9,974,000.00

0.00

9,974,000.00

29,622.78

0.00

5.9400000000%

B-2

59020VAM5

9,119,000.00

0.00

9,119,000.00

27,767.36

0.00

6.0900000000%

B-3

59020VAN3

6,839,000.00

0.00

6,839,000.00

23,902.31

0.00

6.9900000000%

59020VAP8

569,982,363.10 N

569,982,363.10

0.00

561,188,019.36

2,322,345.37

0.00

4.8892994225%

59020VAQ6

0.00

66,329.43

N/A

59020VAR4

100.00

0.00

0.25

0.00

4.9000000000%

Total

549,172,100.00

8,788,436.89

0.00

540,383,663.11

3,778,445.05

66,329.43

Total P&I Payment

12,566,881.94

Current Realized

Loss

Class

CUSIP

Beginning

Certificate Balance

Principal Payment

Original Face Value

(1)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

(1)

N denotes notional balance not included in total

(2)

Accrued Interest plus/minus Interest Adjustment minus Deferred Interest equals Interest Payment * Denotes Controlling Class

Distribution Date: 25-Apr-06

Pass-Through

Rate

Deferred Interest

Ending Certificate

Balance

Interest Payment

(2)

Interest

Adjustment

Bond Payments

24-Apr-2006 19:10

Page 2 of 24

A-1

59020VAA1

248,060,000.00

1000.000000000

35.428270943

0.000000000

964.571729057

2.450000000

0.000000000

5.01938000%

A-2

59020VAB9

67,314,000.00

1000.000000000

0.000000000

1000.000000000

2.480000000

0.000000000

5.07938000%

A-3

59020VAC7

74,812,000.00

1000.000000000

0.000000000

1000.000000000

2.505000000

0.000000000

5.12938000%

A-4

59020VAD5

41,860,000.00

1000.000000000

0.000000000

1000.000000000

2.555000000

0.000000000

5.22938000%

M-1

59020VAE3

23,939,000.00

1000.000000000

0.000000000

1000.000000000

2.590000000

0.000000000

5.29938000%

M-2

59020VAF0

22,229,000.00

1000.000000000

0.000000000

1000.000000000

2.595000225

0.000000000

5.30938000%

M-3

59020VAG8

12,824,000.00

1000.000000000

0.000000000

1000.000000000

2.615000000

0.000000000

5.34938000%

M-4

59020VAH6

11,399,000.00

1000.000000000

0.000000000

1000.000000000

2.660000000

0.000000000

5.43938000%

M-5

59020VAJ2

10,829,000.00

1000.000000000

0.000000000

1000.000000000

2.670000000

0.000000000

5.45938000%

M-6

59020VAK9

9,974,000.00

1000.000000000

0.000000000

1000.000000000

2.705000000

0.000000000

5.52938000%

B-1

59020VAL7

9,974,000.00

1000.000000000

0.000000000

1000.000000000

2.970000000

0.000000000

6.05938000%

B-2

59020VAM5

9,119,000.00

1000.000000000

0.000000000

1000.000000000

3.045000548

0.000000000

6.20938000%

B-3

59020VAN3

6,839,000.00

1000.000000000

0.000000000

1000.000000000

3.495000731

0.000000000

7.10938000%

59020VAP8

569,982,363.10 N

1000.000000000

0.000000000

984.570849364

4.074416193

0.000000000

N/A

59020VAQ6

0.00

0.000000000

N/A

59020VAR4

100.00

1000.000000000

0.000000000

2.500000000

0.000000000

N/A

* Per $1,000 of Original Face Value ** Estimated

Merrill Lynch Mortgage Investors Trust

Next Rate **

Deferred Interest *

Ending Certificate

Balance *

Interest Payment *

Interest Adjustment*

Statement to Certificate Holders (FACTORS)

Distribution Date: 25-Apr-06

Series 2006-HE2

Mortgage Loan Asset-Backed Certificates

Bond Payments

Current Realized

Loss *

Original Face

Value

Class

CUSIP

Beginning Certificate

Balance *

Principal Payment

24-Apr-2006 19:10

Page 3 of 24

Interest Summary

Principal Summary

Supplemental Interest Trust

Interest Summary

Principal Summary

Net Swap Payments received

0.00

Scheduled Interest

3,943,701.36

Scheduled Prin Distribution

270,677.26

Net Swap Payments paid

0.00

Fees

237,492.65

Curtailments

35,843.94

Remittance Interest

3,706,208.72

Prepayments in Full

8,487,822.57

Swap Termination Payments received

0.00

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

0.00

Swap Termination Payments paid

0.00

Prepayment Penalties

66,329.43

Repurchase Proceeds

0.00

Other Interest Loss

0.00

Other Principal Proceeds

0.00

Defaulted Swap Termination Payments

0.00

Other Interest Proceeds

0.00

Remittance Principal

8,794,343.77

Non-advancing Interest

0.00

Non-Supported Interest Shortfall

0.00

Cap Contracts

Relief Act Shortfall

0.00

Modification Shortfall

0.00

Class A Certificates

0.00

Other Interest Proceeds/Shortfalls

66,329.43

Subordinate Certificates

0.00

Interest Adjusted

3,772,538.15

Fee Summary

Total Servicing Fees

237,492.65

Total Trustee Fees

0.00

LPMI Fees

0.00

Credit Manager's Fees

0.00

Misc. Fees / Trust Expense

0.00

Insurance Premium

0.00

Total Fees

237,492.65

Advances (Principal & Interest)

Prior Month's Outstanding Advances

N/A

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

3,664,334.51

P&I Due Certificate Holders

12,566,881.92

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Pool Source of Funds

Non-Pool Source of Funds

P&I Advances as of the end of the Due Period do not reflect the amount of advances remitted by the Servicer on the Servicer Remittance Date due to additional proceeds received between the end of the Due Period and the Servicer Remittance Date and netted from the P&I Advances stated as of the end
of the Due Period.

Distribution Date: 25-Apr-06

Cash Reconciliation Summary

24-Apr-2006 19:10

Page 4 of 24

Fixed

ARM

Total

Interest Summary

Scheduled Interest

698,930.05

3,244,771.31

3,943,701.36

Fees

38,249.87

199,242.78

237,492.65

Remittance Interest

660,680.18

3,045,528.54

3,706,208.72

Other Interest Proceeds/Shortfalls

Prepayment Penalties

941.34

65,388.09

66,329.43

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

941.34

65,388.09

66,329.43

Interest Adjusted

661,621.52

3,110,916.63

3,772,538.15

Principal Summary

Scheduled Principal Distribution

54,212.70

216,464.56

270,677.26

Curtailments

10,819.70

25,024.24

35,843.94

Prepayments in Full

969,859.53

7,517,963.04

8,487,822.57

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

1,034,891.93

7,759,451.84

8,794,343.77

Fee Summary

Total Servicing Fees

38,249.87

199,242.78

237,492.65

Total Trustee Fees

0.00

LPMI Fees

0.00

Total Fees

38,249.87

199,242.78

237,492.65

Beginning Principal Balance

91,799,700.44

478,182,662.69

569,982,363.13

Ending Principal Balance

90,764,808.51

470,423,210.85

561,188,019.36

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Cash Reconciliation Summary

24-Apr-2006 19:10

Page 5 of 24

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Original Pool Balance

569,982,363.13

3,478

3 mo. Rolling Average

0.00

561,188,019

0.00%

WAC - Current

8.62%

7.64%

7.80%

Cum Scheduled Principal

270,677.26

6 mo. Rolling Average

0.00

561,188,019

0.00%

WAC - Original

8.62%

7.64%

7.80%

Cum Unscheduled Principal

8,523,666.51

12 mo. Rolling Average

0.00

561,188,019

0.00%

WAL - Current

362.11

356.12

357.08

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAL - Original

362.11

356.12

357.08

Cum Deferred Interest

0.00

3 mo. Cum Loss

0.00

6 mo. Cum loss

0.00

Current Index Rate

Current

Amount

Count

12 mo. Cum Loss

0.00

Next Index Rate

Beginning Pool

569,982,363.13

3,478 100.00%

Scheduled Principal

270,677.26

0.05%

Triggers

Prepayment Charges

Amount

Count

Unscheduled Principal

8,523,666.51

1.50%

Current

66,329.43

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Cumulative

66,329.43

Liquidations

0.00

0.00%

Delinquency Event Calc

(1)

0.00

561,188,019

0.00%

Repurchases

0.00

0.00%

Ending Pool

561,188,019.36

3,432

98.46%

> Loss Trigger Event?

(3)

Average Loan Balance

163,516.32

Cumulative Loss

0.00%

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Required Percentage

(4)

N/A

Cut-off LTV

82.32%

Step Down %

(5)

51.60%

Cash Out/Refinance

48.52%

Credit Enhancement

Amount

% of Required Percentage

(6)

N/A

SFR

76.43%

Original OC

20,810,363.13

3.65%

> Step Down Date?

Target OC

20,804,356.25

3.65%

Min

Max

Beginning OC

20,810,363.13

Extra Principal

0.00

FICO

500

802

620.99

Ending OC

20,804,356.25

Cumulative Extra Principal

0.00

Most Senior Certificate

432,046,100.00 75.80%

OC Release

5,906.88

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Pool Detail and Performance Indicators Total (All Loans)

Misc/Additional Information

Pool Level Information

4.840000%

4.959380%

Balance

469,219,968.67

276,552,220.49

435,616,636.04

Legend: (1) 60 Days+, REO, F/C % (3) Condn: Cum Loss > specified thresholds (5) Defined Benchmark
(2) (1) > (6) * (4), then TRUE (4) Most Senior Certs + OC Amount / Ending Pool Bal (6) Defined Benchmark (Used in Delinq Event Calc)

Owner Occupied

532,374,503.30

93.40%

24-Apr-2006 19:10

Page 6 of 24

A-1

Act/360

248,060,000.00

4.900000000%

607,747.00

0.00

607,747.00

0.00

A-2

Act/360

67,314,000.00

4.960000000%

166,938.72

0.00

166,938.72

0.00

A-3

Act/360

74,812,000.00

5.010000000%

187,404.06

0.00

187,404.06

0.00

A-4

Act/360

41,860,000.00

5.110000000%

106,952.30

0.00

106,952.30

0.00

M-1

Act/360

23,939,000.00

5.180000000%

62,002.01

0.00

62,002.01

0.00

M-2

Act/360

22,229,000.00

5.190000000%

57,684.26

0.00

57,684.26

0.00

M-3

Act/360

12,824,000.00

5.230000000%

33,534.76

0.00

33,534.76

0.00

M-4

Act/360

11,399,000.00

5.320000000%

30,321.34

0.00

30,321.34

0.00

M-5

Act/360

10,829,000.00

5.340000000%

28,913.43

0.00

28,913.43

0.00

M-6

Act/360

9,974,000.00

5.410000000%

26,979.67

0.00

26,979.67

0.00

B-1

Act/360

9,974,000.00

5.940000000%

29,622.78

0.00

29,622.78

0.00

B-2

Act/360

9,119,000.00

6.090000000%

27,767.36

0.00

27,767.36

0.00

B-3

Act/360

6,839,000.00

6.990000000%

23,902.31

0.00

23,902.31

0.00

30/360

569,982,363.10

4.889300000%

2,322,345.37

0.00

2,322,345.37

0.00

0.000000000%

0.00

66,329.43

0.00

66,329.43

0.00

Act/360

100.00

4.900000000%

0.25

0.00

0.25

0.00

Total

549,172,100.00

3,712,115.62

66,329.43

0.00

3,778,445.05

0.00

Interest Payment

Amount

Interest Carry-

Forward Amount

Interest Carry-

Forward Amount

Net Cap

Rate in

Effect Y/N

Total Interest

Deductions

Method

Days

Floating Rate

Certficate Carry-

Over

Floating Rate

Certficate Carry-

Over

Class

Accrual

Certificate

Interest

Distribution Date: 25-Apr-06

Pass-Thru Rate

Total Interest

Additions

Distributable

Certificate

Interest

Bond Interest Reconciliation

Opening Balance

- - Accrual - -

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

- - - - - Outstanding - - - -

- - - - - - Recovered - - - - - -

24-Apr-2006 19:10

Page 7 of 24

A-1

31-Mar-06

7-Apr-06

25-Apr-06

0.00

A-2

31-Mar-06

7-Apr-06

25-Apr-06

0.00

A-3

31-Mar-06

7-Apr-06

25-Apr-06

0.00

A-4

31-Mar-06

7-Apr-06

25-Apr-06

0.00

M-1

31-Mar-06

7-Apr-06

25-Apr-06

0.00

M-2

31-Mar-06

7-Apr-06

25-Apr-06

0.00

M-3

31-Mar-06

7-Apr-06

25-Apr-06

0.00

M-4

31-Mar-06

7-Apr-06

25-Apr-06

0.00

M-5

31-Mar-06

7-Apr-06

25-Apr-06

0.00

M-6

31-Mar-06

7-Apr-06

25-Apr-06

0.00

B-1

31-Mar-06

7-Apr-06

25-Apr-06

0.00

B-2

31-Mar-06

7-Apr-06

25-Apr-06

0.00

B-3

31-Mar-06

7-Apr-06

25-Apr-06

0.00

31-Mar-06

1-Mar-06

1-Apr-06

0.00

31-Mar-06

1-Mar-06

1-Apr-06

0.00

66,329.43

0.00

31-Mar-06

7-Apr-06

25-Apr-06

0.00

Total

0.00

66,329.43

0.00

Merrill Lynch Mortgage Investors Trust

Interest Carry-

Forward

Floating Rate

Cartificate Carry-

Over

(1)

Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

(2)

Interest Carry-Forward Shortfall is unpaid interest with interest thereon.

- - - - - - - - - - - - - - - - - - - - - - - - - - - Additions - - - - - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - Deductions - - - - - - - - - -

Bond Interest Reconciliation

Non-Supported

Interest Shortfall

Prepayment

Premiums

Record Date

Class

Supplemental

Interest Trust

Payments From

Cap Contracts

Interest Carry-

Forward

Distribution Date: 25-Apr-06

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Prior Interest Due

Date

Current Interest

Due Date

Floating Rate

Cartificate Carry-

Over

Other Interest

Proceeds

(1)

24-Apr-2006 19:10

Page 8 of 24

A-1

248,060,000.00

270,577.26

8,517,759.63

0.00

239,271,663.11

25-Mar-37

24.20%

24.58%

A-2

67,314,000.00

0.00

67,314,000.00

25-Mar-37

24.20%

24.58%

A-3

74,812,000.00

0.00

74,812,000.00

25-Mar-37

24.20%

24.58%

A-4

41,860,000.00

0.00

41,860,000.00

25-Mar-37

24.20%

24.58%

M-1

23,939,000.00

0.00

23,939,000.00

25-Mar-37

20.00%

20.31%

M-2

22,229,000.00

0.00

22,229,000.00

25-Mar-37

16.10%

16.35%

M-3

12,824,000.00

0.00

12,824,000.00

25-Mar-37

13.85%

14.07%

M-4

11,399,000.00

0.00

11,399,000.00

25-Mar-37

11.85%

12.04%

M-5

10,829,000.00

0.00

10,829,000.00

25-Mar-37

9.95%

10.11%

M-6

9,974,000.00

0.00

9,974,000.00

25-Mar-37

8.20%

8.33%

B-1

9,974,000.00

0.00

9,974,000.00

25-Mar-37

6.45%

6.55%

B-2

9,119,000.00

0.00

9,119,000.00

25-Mar-37

4.85%

4.93%

B-3

6,839,000.00

0.00

6,839,000.00

25-Mar-37

3.65%

3.71%

569,982,363.10

0.00

561,188,019.36

25-Mar-37

N/A

0.00

25-Mar-37

N/A

100.00

0.00

25-Mar-37

24.20%

24.58%

Total

549,172,100.00

270,677.26

8,517,759.63

0.00

540,383,663.11

Cumulative

Losses

- - - - - - - - - - - - - - - - Losses - - - - - - - - - - - - - - -

Extra

Principal
Payment

Prior
Loss

Reimburs.

Bond Principal Reconciliation

Unscheduled

Principal
Payment

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Current

Original

Interest on

Losses

Scheduled Principal

Payment

Ending

Class Balance

Rated

Final

Maturity

- Credit Support -

Class

Original Class

Balance

Beginning Class

Balance

Current

Losses

Distribution Date: 25-Apr-06

24-Apr-2006 19:10

Page 9 of 24

Class

CUSIP

Fitch

Moody's

S&P

A-1

59020VAA1

Aaa

AAA

A-2

59020VAB9

Aaa

AAA

A-3

59020VAC7

Aaa

AAA

A-4

59020VAD5

Aaa

AAA

M-1

59020VAE3

Aa1

AA+

M-2

59020VAF0

Aa2

M-3

59020VAG8

Aa3

M-4

59020VAH6

M-5

59020VAJ2

A+

M-6

59020VAK9

B-1

59020VAL7

Baa1

A-

B-2

59020VAM5

Baa2

BBB+

B-3

59020VAN3

Baa3

BBB-

59020VAP8

59020VAQ6

NR - Designates that the class was not rated by the rating agency.

(1)

Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be understood that this transmission will generally have been provided to LaSalle within 30 days of the payment

date listed on this statement. Because ratings may have changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not being updated on this report, LaSalle recommends that investors obtain
current rating information directly from the rating agency.

- - - - - - - - - Original Ratings - - - - - - -

Fitch

Moody's

S&P

- - - - - - - - - - - - - - - - Ratings Change / Change Date

(1)

- - - - - - - - - - - - - - - - -

Distribution Date: 25-Apr-06

Ratings Information

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

24-Apr-2006 19:10

Page 10 of 24

Type

Count

Count (%)

Scheduled UPB

Sched UPB (%)

Arrears

Arrears (%)

REO Book Value

3417

98.2461%

560,448,903.78

98.3803%

0.00

0.0000%

0.00

1.7539%

9,226,937.22

1.6197%

0.00

0.0000%

0.00

Total (Prior Month End):

3478

100.0000%

569,675,841.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

1.7539%

9,226,937.22

1.6197%

0.00

0.0000%

0.00

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

F/C Quick Sale

Value

Total

Distribution Date: 25-Apr-06

End of Month Balance Reporting

24-Apr-2006 19:10

Page 11 of 24

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-Apr-06

3,371

551,961,082

9,226,937

25-Apr-06

970

88,980,861

1,783,948

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Total (All Loans)

Fixed

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

24-Apr-2006 19:10

Page 12 of 24

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

25-Apr-06

2,401

462,980,222

7,442,989

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

ARM

24-Apr-2006 19:10

Page 13 of 24

Balance

25-Apr-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

61-90 Days

90 + Days

Total (All Loans)

Fixed

61-90 Days

90 + Days

Current

31-60 Days

24-Apr-2006 19:10

Page 14 of 24

Balance

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

- - - - - - - - - - - In Foreclosure and Delinquent - - - - - - - - - - - - -

- - - - - - - - - - - - - - - In REO and Delinquent - - - - - - - - - - - - - -

- - - - - - - - - - - - - In Bankruptcy and Delinquent - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

25-Apr-06

ARM

24-Apr-2006 19:10

Page 15 of 24

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

25-Apr-06

3,432

561,188,019

8,487,823

0.00

357

8.30%

7.80%

25-Apr-06

995

90,764,809

969,860

0.00

362

9.14%

8.64%

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Curr Weighted Avg.

Total (All Loans)

Fixed

Distribution

Date

Ending Pool

Payoffs

Realized Losses

24-Apr-2006 19:10

Page 16 of 24

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

25-Apr-06

2,437

470,423,211

7,517,963

0.00

356

8.14%

7.64%

ARM

24-Apr-2006 19:10

Page 17 of 24

SMM (Single Monthly Mortality)

Total

Current Period

1.49%

3-Month Average

1.49%

6-Month Average

1.49%

12-Month Average

1.49%

Average Since Cut-Off

1.49%

CPR (Conditional Prepayment Rate)

Total

Current Period

16.48%

3-Month Average

16.48%

6-Month Average

16.48%

12-Month Average

16.48%

Average Since Cut-Off

16.48%

PSA (Public Securities Association)

Total

Current Period

275%

3-Month Average

275%

6-Month Average

275%

12-Month Average

275%

Average Since Cut-Off

275%

SMM

Single Monthly Mortality

(Partial and Full Prepayments + Repurchases + Liquidations) / (Beginning Collateral Balance - Scheduled Principal)

CPR

Conditional Prepayment Rate

1 - ((1 - SMM)^12)

PSA

Public Securities Association

100 * CPR / (0.2 * MIN(30,WAS))

WAS

Weighted Average Seasoning

((Original Term - Remaining Term) * (Current Scheduled Balance / Deal Scheduled Principal Balance)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Prepayment Summary

0.00%

0.26%

0.51%

0.77%

1.03%

1.29%

1.54%

1.80%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

0.00%

2.64%

5.29%

7.93%

10.57%

13.21%

15.86%

18.50%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

43%

86%

129%

171%

214%

257%

300%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

24-Apr-2006 19:10

Page 18 of 24

C
M
N
O
P

REO
Short Pay
Third Party
Write-off

R
S
T
W

1
2
3
4
5

6
7
8
9

Loss-Loan

Adjusted

Net Liquidation

Proceeds

Disclosure Control #

Period

Loss to Trust

Loss-Loan Non-

adjusted

Adjustment Legend
Escrow Bal/Adv
MREC
Rest'd Escrow
Replacement Res.
Suspense

Third Party
Charged Off/Matured
Side Note
Manual

Liq. Type Code - Legend
Charge-off
Matured
Repurchase
Note Sale
Paid in Full

Current Period Realized Loss Detail

Loss-Certs Non-

adjusted

Subsequent

Recov/(Exp)

Original Liquidation

Balance

Adj Type

Liq Type

Loss-Certs

Adjusted

Distribution Date: 25-Apr-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

24-Apr-2006 19:10

Page 19 of 24

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

25-Apr-06

0.00

Total

0.00

- - - - - - - - - - - - - - - - - Current Realized Loss - - - - - - - - - - - - - - - - -

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Historical Realized Loss Summary

Recovery on Prior

Liquidations

Claims on Prior Liquidations

(Claims)/Recoveries on

Prior Payoffs

- - - - - - - - - - - - - - Previous Liquidations/Payoffs - - - - - - - - - - - - - -

24-Apr-2006 19:10

Page 20 of 24

MDR (monthly Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

CDR (Conditional Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

SDA (Standard Default Assumption)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

MDR

(Monthly Default Rate)

(Beginning Principal Balance of Liquidated Loans) / (Total Beginning Principal Balance)

CDR

(Conditional Default Rate)

1 - ((1 - MDR)^

SDA

(Standard Default Assumption)

If WAS=30 then CDR/(WAS*0.02) else if 30<WAS=60 then CDR/0.6 else if 60<WAS=120 then CDR/(0.6-((WAS-60)*0.0095)) else if WAS>120 then CDR/0.03

WAS

Weighted Average Seasoning

((Original Term - Remaining Term) * (Current Scheduled Balance / Deal Scheduled Principal Balance)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Realized Loss Summary

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

20%

40%

60%

80%

100%

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

24-Apr-2006 19:10

Page 21 of 24

Total

Relief Act Interest

Shortfall

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Servicemembers Civil Relief Act

Ending balance

Loan Rate

P&I Amount

Scheduled Interest

Disclosure Control #

Beginning

Balance

Scheduled

Principal

Unscheduled

Principal

Interest Received

24-Apr-2006 19:10

Page 22 of 24

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Material Breaches Detail

Disclosure Control

Loan Group #

Ending Principal

Balance

Material Breach

Date

Material Breach Description

Material breaches of pool asset representation or warranties or transaction covenants.

24-Apr-2006 19:10

Page 23 of 24

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-Apr-06

Modified Loan Detail

Disclosure Control

Loan Group #

Modified Maturity

Date

Cutoff Maturity

Date

Modification Description

Modifications include any extensions or waivers to the mortgage loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time.

24-Apr-2006 19:10

Page 24 of 24

MORTGAGE LOAN ASSET-BACKED CERTIFICATES, SERIES 2006-HE2 10-D