Content:

Pages

Contact Information:

5/25/2006

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

4/25/2006

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

6/26/2006

Bond Interest Reconciliation Part II

Bond Principal Reconciliation

Outside Parties To The Transaction

Rating Information

4/28/2006

End of Month Balance Reporting

15 Month Loan Status Summary Part I

12-14

15 Month Loan Status Summary Part II

15-17

15 Month Historical Payoff Summary

18-19

Prepayment Summary

Mortgage Loan Characteristics Part I

Mortgage Loan Characteristics Part II

22-24

4/7/2006

Geographic Concentration

Current Period Realized Loss Detail

Historical Realized Loss Summary

4/25/2006

Realized Loss Summary

Servicemembers Civil Relief Act

Material Breaches Detail

Modified Loan Detail

3/25/2037

Deleted and Replacement Loan Detail

5/15/2006

Determination

Date:

15-May-06

First Pay. Date:

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

25-Apr-06

Rated Final

Payment Date:

25-Mar-37

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

Closing Date:

7-Apr-06

Master Servicer: Wilshire Credit Corporation

Record Date:

28-Apr-06

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

Distribution Count:

Depositor: Merrill Lynch Mortgage Investors, Inc.

Prior Payment:

25-Apr-06

Next Payment:

26-Jun-06

ABN AMRO Acct : 723581.1

Payment Date:

25-May-06

Distribution Date: 25-May-06

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

A-1

59020VAA1

248,060,000.00

239,271,663.11

7,031,057.75

0.00

232,240,605.36

1,000,829.50

0.00

5.0193800000%

A-2

59020VAB9

67,314,000.00

0.00

67,314,000.00

284,927.82

0.00

5.0793800000%

A-3

59020VAC7

74,812,000.00

0.00

74,812,000.00

319,782.65

0.00

5.1293800000%

A-4

59020VAD5

41,860,000.00

0.00

41,860,000.00

182,418.21

0.00

5.2293800000%

M-1

59020VAE3

23,939,000.00

0.00

23,939,000.00

105,718.21

0.00

5.2993800000%

M-2

59020VAF0

22,229,000.00

0.00

22,229,000.00

98,351.84

0.00

5.3093800000%

M-3

59020VAG8

12,824,000.00

0.00

12,824,000.00

57,167.04

0.00

5.3493800000%

M-4

59020VAH6

11,399,000.00

0.00

11,399,000.00

51,669.58

0.00

5.4393800000%

M-5

59020VAJ2

10,829,000.00

0.00

10,829,000.00

49,266.36

0.00

5.4593800000%

M-6

59020VAK9

9,974,000.00

0.00

9,974,000.00

45,958.36

0.00

5.5293800000%

B-1

59020VAL7

9,974,000.00

0.00

9,974,000.00

50,363.55

0.00

6.0593800000%

B-2

59020VAM5

9,119,000.00

0.00

9,119,000.00

47,186.11

0.00

6.2093800000%

B-3

59020VAN3

6,839,000.00

0.00

6,839,000.00

40,517.54

0.00

7.1093800000%

59020VAP8

569,982,363.10 N

561,188,019.36

0.00

554,156,961.61

1,309,946.35

(1,643.07)

2.8045989027%

59020VAQ6

0.00

49,594.98

N/A

59020VAR4

100.00

0.00

N/A

Total

549,172,100.00

540,383,663.11

7,031,057.75

0.00

533,352,605.36

3,693,698.10

47,951.91

20,804,356.25

Total P&I Payment

10,724,755.85

Current Realized

Loss

Class

CUSIP

Beginning

Certificate Balance

Principal Payment

Original Face Value

(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

Interest

Adjustment

Bond Payments

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Revised Date: 20-Jun-06

Distribution Date: 25-May-06

Pass-Through

Rate

Deferred Interest

Ending Certificate

Balance

Interest Payment

(2)

20-Jun-2006 13:52

A-1

59020VAA1

248,060,000.00

964.571729057

28.344181851

0.000000000

936.227547206

4.034626703

0.000000000

5.14125000%

A-2

59020VAB9

67,314,000.00

1000.000000000

0.000000000

1000.000000000

4.232816650

0.000000000

5.20125000%

A-3

59020VAC7

74,812,000.00

1000.000000000

0.000000000

1000.000000000

4.274483372

0.000000000

5.25125000%

A-4

59020VAD5

41,860,000.00

1000.000000000

0.000000000

1000.000000000

4.357816770

0.000000000

5.35125000%

M-1

59020VAE3

23,939,000.00

1000.000000000

0.000000000

1000.000000000

4.416149797

0.000000000

5.42125000%

M-2

59020VAF0

22,229,000.00

1000.000000000

0.000000000

1000.000000000

4.424483333

0.000000000

5.43125000%

M-3

59020VAG8

12,824,000.00

1000.000000000

0.000000000

1000.000000000

4.457816594

0.000000000

5.47125000%

M-4

59020VAH6

11,399,000.00

1000.000000000

0.000000000

1000.000000000

4.532816914

0.000000000

5.56125000%

M-5

59020VAJ2

10,829,000.00

1000.000000000

0.000000000

1000.000000000

4.549483794

0.000000000

5.58125000%

M-6

59020VAK9

9,974,000.00

1000.000000000

0.000000000

1000.000000000

4.607816322

0.000000000

5.65125000%

B-1

59020VAL7

9,974,000.00

1000.000000000

0.000000000

1000.000000000

5.049483658

0.000000000

6.18125000%

B-2

59020VAM5

9,119,000.00

1000.000000000

0.000000000

1000.000000000

5.174482948

0.000000000

6.33125000%

B-3

59020VAN3

6,839,000.00

1000.000000000

0.000000000

1000.000000000

5.924483112

0.000000000

7.23125000%

59020VAP8

569,982,363.10 N

984.570849364

0.000000000

972.235278643

2.298222603

(0.002882668)

N/A

59020VAQ6

0.00

0.000000000

N/A

59020VAR4

100.00

0.000000000

N/A

Bond Payments

Current Realized

Loss *

Original Face

Value

Class

CUSIP

Beginning Certificate

Balance *

Principal Payment

Series 2006-HE2

Mortgage Loan Asset-Backed Certificates

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

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Next Rate **

Deferred Interest *

Ending Certificate

Balance *

Interest Payment *

Interest Adjustment*

Statement to Certificate Holders (FACTORS)

Distribution Date: 25-May-06

20-Jun-2006 13:52

Interest Summary

Principal Summary

Supplemental Interest Trust

Interest Summary

Principal Summary

Net Swap Payments received

0.00

Scheduled Interest

3,879,574.53

Scheduled Prin Distribution

268,956.59

Net Swap Payments paid

0.00

Fees

234,534.59

Curtailments

8,053.66

Remittance Interest

3,645,039.94

Prepayments in Full

6,485,017.02

Swap Termination Payments received

0.00

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

0.00

Swap Termination Payments paid

0.00

Prepayment Penalties

49,594.98

Repurchase Proceeds

269,030.48

Other Interest Loss

(936.82)

Other Principal Proceeds

0.00

Defaulted Swap Termination Payments

0.00

Other Interest Proceeds

0.09

Remittance Principal

7,031,057.75

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

48,658.25

Subordinate Certificates

0.00

Interest Adjusted

3,693,698.19

Fee Summary

Total Servicing Fees

233,828.34

Total Trustee Fees

0.00

LPMI Fees

0.00

Credit Manager's Fees

0.00

Unpaid Serv Fees (Charged-off Loans)

0.00

Misc. Fees / Trust Expense

706.25

Insurance Premium

0.00

Total Fees

234,534.59

Advances (Principal & Interest)

Prior Month's Outstanding Advances

3,664,334.51

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

4,361,789.82

P&I Due Certificate Holders

10,724,755.94

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-May-06

Cash Reconciliation Summary

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

Fixed

ARM

Total

Interest Summary

Scheduled Interest

689,813.72

3,189,760.81

3,879,574.53

Fees

37,818.67

196,009.67

233,828.34

Remittance Interest

651,995.05

2,993,751.13

3,645,746.19

Other Interest Proceeds/Shortfalls

Prepayment Penalties

14,516.46

35,078.52

49,594.98

Other Interest Loss

(92.38)

(844.44)

(936.82)

Other Interest Proceeds

0.04

0.05

0.09

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

14,424.12

34,234.13

48,658.25

Interest Adjusted

666,419.17

3,027,985.27

3,694,404.44

Principal Summary

Scheduled Principal Distribution

54,388.48

214,568.11

268,956.59

Curtailments

5,841.07

2,238.52

8,079.59

Prepayments in Full

862,000.99

5,623,016.03

6,485,017.02

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

269,030.48

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

922,230.54

6,108,853.14

7,031,083.68

Fee Summary

Total Servicing Fees

37,818.67

196,009.67

233,828.34

Total Trustee Fees

0.00

LPMI Fees

0.00

Total Fees

37,818.67

196,009.67

233,828.34

Beginning Principal Balance

90,764,808.51

470,423,210.85

561,188,019.36

Ending Principal Balance

89,842,571.41

464,314,390.20

554,156,961.61

Distribution Date: 25-May-06

Cash Reconciliation Summary ARM

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cutt-off Pool Balance

569,982,363.13

3,478

3 mo. Rolling Average

53,795.06

557,790,082

0.01%

WAC - Current

8.60%

7.64%

7.79%

Cum Scheduled Principal

539,665.30

6 mo. Rolling Average

53,795.06

557,790,082

0.01%

WAC - Original

8.62%

7.64%

7.80%

Cum Unscheduled Principal

15,285,767.67

12 mo. Rolling Average

53,795.06

557,790,082

0.01%

WAL - Current

263.89

355.12

340.43

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAL - Original

265.57

356.12

341.58

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

561,188,019.36

3,432

98.46%

Scheduled Principal

268,988.04

0.05%

Triggers

Prepayment Charges

Unscheduled Principal

6,257,855.96

1.10%

Amount

Count

Deferred Interest

0.00

0.00%

> Delinquency Trigger Event

(2)

Current

49,594.98

Liquidations

0.00

0.00%

Delinquency Event Calc

(1)

53,795.06

554,392,145

0.01%

Cumulative

115,924.41

Repurchases

269,030.48

0.05%

Ending Pool

554,392,144.88

3,400

97.26%

> Loss Trigger Event?

(3)

Average Loan Balance

163,056.51

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

20,810,363.13

3.65%

Min

Max

Beginning OC

20,804,356.25

Extra Principal

0.00

FICO

500

802

621.22

Ending OC

20,804,356.25

Cumulative Extra Principal

0.00

Most Senior Certificates

423,257,663.11 74.26%

OC Release

N/A

Legend:(1) 60 Days+, REO, BK, 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%

Balance

469,219,968.67

276,552,220.49

435,616,636.04

Misc/Additional Information

Pool Level Information

4.959380%

5.081250%

Distribution Date: 25-May-06

Pool Detail and Performance Indicators Total (All Loans)

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

A-1

Act/360

239,271,663.11

5.019380000%

1,000,829.50

0.00

1,000,829.50

0.00

A-2

Act/360

67,314,000.00

5.079380000%

284,927.82

0.00

284,927.82

0.00

A-3

Act/360

74,812,000.00

5.129380000%

319,782.65

0.00

319,782.65

0.00

A-4

Act/360

41,860,000.00

5.229380000%

182,418.21

0.00

182,418.21

0.00

M-1

Act/360

23,939,000.00

5.299380000%

105,718.21

0.00

105,718.21

0.00

M-2

Act/360

22,229,000.00

5.309380000%

98,351.84

0.00

98,351.84

0.00

M-3

Act/360

12,824,000.00

5.349380000%

57,167.04

0.00

57,167.04

0.00

M-4

Act/360

11,399,000.00

5.439380000%

51,669.58

0.00

51,669.58

0.00

M-5

Act/360

10,829,000.00

5.459380000%

49,266.36

0.00

49,266.36

0.00

M-6

Act/360

9,974,000.00

5.529380000%

45,958.36

0.00

45,958.36

0.00

B-1

Act/360

9,974,000.00

6.059380000%

50,363.55

0.00

50,363.55

0.00

B-2

Act/360

9,119,000.00

6.209380000%

47,186.11

0.00

47,186.11

0.00

B-3

Act/360

6,839,000.00

7.109380000%

40,517.54

0.00

40,517.54

0.00

561,188,019.36

2.804600000%

1,311,589.42

0.00

1,311,589.42

1,309,946.35

0.00

0.000000000%

0.00

49,594.98

0.00

49,594.98

0.00

Act/360

0.00

N/A

0.00

Total

540,383,663.11

3,645,746.19

49,594.98

0.00

3,695,341.17

3,693,698.10

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

Revised Date: 20-Jun-06

Class

Accrual

Certificate

Interest

Distribution Date: 25-May-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 - - - - - -

20-Jun-2006 13:52

A-1

28-Apr-06

25-Apr-06

25-May-06

0.00

A-2

28-Apr-06

25-Apr-06

25-May-06

0.00

A-3

28-Apr-06

25-Apr-06

25-May-06

0.00

A-4

28-Apr-06

25-Apr-06

25-May-06

0.00

M-1

28-Apr-06

25-Apr-06

25-May-06

0.00

M-2

28-Apr-06

25-Apr-06

25-May-06

0.00

M-3

28-Apr-06

25-Apr-06

25-May-06

0.00

M-4

28-Apr-06

25-Apr-06

25-May-06

0.00

M-5

28-Apr-06

25-Apr-06

25-May-06

0.00

M-6

28-Apr-06

25-Apr-06

25-May-06

0.00

B-1

28-Apr-06

25-Apr-06

25-May-06

0.00

B-2

28-Apr-06

25-Apr-06

25-May-06

0.00

B-3

28-Apr-06

25-Apr-06

25-May-06

0.00

28-Apr-06

1-Apr-06

1-May-06

0.00

28-Apr-06

1-Apr-06

1-May-06

0.00

49,594.98

0.00

28-Apr-06

25-Apr-06

25-May-06

0.00

Total

0.00

49,594.98

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

Revised Date: 20-Jun-06

Class

Supplemental

Interest Trust

Payments From

Cap Contracts

Interest Carry-

Forward

Distribution Date: 25-May-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)

20-Jun-2006 13:52

A-1

248,060,000.00

239,271,663.11

268,956.59

6,762,101.16

0.00

232,240,605.36

25-Mar-37

24.20%

24.89%

A-2

67,314,000.00

0.00

67,314,000.00

25-Mar-37

24.20%

24.89%

A-3

74,812,000.00

0.00

74,812,000.00

25-Mar-37

24.20%

24.89%

A-4

41,860,000.00

0.00

41,860,000.00

25-Mar-37

24.20%

24.89%

M-1

23,939,000.00

0.00

23,939,000.00

25-Mar-37

20.00%

20.57%

M-2

22,229,000.00

0.00

22,229,000.00

25-Mar-37

16.10%

16.56%

M-3

12,824,000.00

0.00

12,824,000.00

25-Mar-37

13.85%

14.25%

M-4

11,399,000.00

0.00

11,399,000.00

25-Mar-37

11.85%

12.19%

M-5

10,829,000.00

0.00

10,829,000.00

25-Mar-37

9.95%

10.23%

M-6

9,974,000.00

0.00

9,974,000.00

25-Mar-37

8.20%

8.43%

B-1

9,974,000.00

0.00

9,974,000.00

25-Mar-37

6.45%

6.63%

B-2

9,119,000.00

0.00

9,119,000.00

25-Mar-37

4.85%

4.99%

B-3

6,839,000.00

0.00

6,839,000.00

25-Mar-37

3.65%

3.76%

569,982,363.10

561,188,019.36

0.00

554,156,961.61

25-Mar-37

N/A

0.00

25-Mar-37

N/A

100.00

0.00

25-Mar-37

24.20%

24.89%

Total

549,172,100.00

540,383,663.11

268,956.59

6,762,101.16

0.00

533,352,605.36

Ending

Class Balance

Rated

Final

Maturity

- Credit Support -

Class

Original Class

Balance

Beginning Class

Balance

Current
Losses

Distribution Date: 25-May-06

Bond Principal Reconciliation

Unscheduled

Principal
Payment

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Current

Original

Interest on

Losses

Scheduled Principal

Payment

Cumulative

Losses

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

Extra

Principal
Payment

Prior
Loss

Reimburs.

20-Jun-2006 13:52

Class

CUSIP

Fitch

Moody's

DBRS

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

Ratings Information

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

DBRS

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-May-06

20-Jun-2006 13:52

Type

Count

Count (%)

Scheduled UPB

Sched UPB (%)

Arrears

Arrears (%)

REO Book Value

3301

95.9593%

537,725,323.39

96.9467%

0.00

0.0000%

0.00

1.9767%

11,769,258.05

2.1219%

0.00

0.0000%

0.00

0.9302%

5,058,770.93

0.9120%

0.00

0.0000%

0.00

BKY0

0.0291%

107,590.12

0.0194%

0.00

0.0000%

0.00

PIF

1.1047%

0.00

0.0000%

0.00

0.0000%

0.00

Total (Prior Month End):

3440

100.0000%

554,660,942.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

100

2.9070%

16,828,028.00

3.0339%

0.00

0.0000%

0.00

Total (Prior Month End):
Delinq Total (Prior Month End):

F/C Quick Sale

Value

Total

Distribution Date: 25-May-06

End of Month Balance Reporting

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-May-06

3,298

537,021,612

11,968,989

5,058,771

107,590

25-Apr-06

3,371

551,961,082

9,226,937

25-May-06

97.00%

96.91%

2.03%

2.16%

0.94%

0.91%

0.00%

0.03%

0.02%

0.00%

25-Apr-06

98.22%

98.36%

1.78%

1.64%

0.00%

Total (All Loans)

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

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

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

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

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

25-May-06

962

87,555,199

1,303,252

1,091,594

25-Apr-06

970

88,980,861

1,783,948

25-May-06

97.07%

97.34%

1.41%

1.45%

1.51%

1.21%

0.00%

25-Apr-06

97.49%

98.03%

2.51%

1.97%

0.00%

Fixed

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Fixed

20-Jun-2006 13:52

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-May-06

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

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

25-May-06

2,336

449,701,596

10,665,737

3,967,177

107,590

25-Apr-06

2,401

462,980,222

7,442,989

25-May-06

96.97%

96.83%

2.28%

2.30%

0.71%

0.85%

0.00%

0.04%

0.02%

0.00%

25-Apr-06

98.52%

98.42%

1.48%

1.58%

0.00%

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

ARM

20-Jun-2006 13:52

Balance

25-May-06

107,590

25-Apr-06

25-May-06

0.00%

0.03%

0.02%

0.00%

25-Apr-06

0.00%

61-90 Days

90 + Days

Total (All Loans)

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - 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

Distribution Date: 25-May-06

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

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - 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

Distribution Date: 25-May-06

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

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

25-May-06

25-Apr-06

25-May-06

0.00%

25-Apr-06

0.00%

Fixed

20-Jun-2006 13:52

Balance

61-90 Days

90 + Days

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - 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

Distribution Date: 25-May-06

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

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

25-May-06

107,590

25-Apr-06

25-May-06

0.00%

0.04%

0.02%

0.00%

25-Apr-06

0.00%

ARM

20-Jun-2006 13:52

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

25-May-06

3,400

554,156,962

6,485,017

0.00

340

8.30%

7.80%

25-Apr-06

3,432

561,188,019

8,487,823

0.00

341

8.30%

7.80%

25-May-06

991

89,950,044

862,001

0.00

263

9.12%

8.62%

25-Apr-06

995

90,764,809

969,860

0.00

265

9.14%

8.64%

Curr Weighted Avg.

Total (All Loans)

Fixed

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-May-06

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

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-May-06

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

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

25-May-06

2,409

464,442,100

5,623,016

0.00

355

8.14%

7.64%

25-Apr-06

2,437

470,423,211

7,517,963

0.00

356

8.14%

7.64%

ARM

20-Jun-2006 13:52

SMM (Single Monthly Mortality)

Total

Current Period

1.20%

3-Month Average

1.35%

6-Month Average

1.35%

12-Month Average

1.35%

Average Since Cut-Off

1.35%

CPR (Conditional Prepayment Rate)

Total

Current Period

13.53%

3-Month Average

15.01%

6-Month Average

15.01%

12-Month Average

15.01%

Average Since Cut-Off

15.01%

PSA (Public Securities Association)

Total

Current Period

225%

3-Month Average

250%

6-Month Average

250%

12-Month Average

250%

Average Since Cut-Off

250%

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)

Distribution Date: 25-May-06

Prepayment Summary

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

0.00%

2.43%

4.86%

7.29%

9.71%

12.14%

14.57%

17.00%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

0.00%

14.29%

28.57%

42.86%

57.14%

71.43%

85.71%

100.00%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

229%

457%

686%

914%

1143%

1371%

1600%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

20-Jun-2006 13:52

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

10,000

46,000

342

10.06%

11,713,939

2.11%

10,000

46,000

345

9.92%

11,885,140

2.09%

46,000

63,000

298

8.76%

16,340,107

2.95%

46,000

63,000

296

8.51%

16,201,609

2.84%

63,000

80,000

289

8.50%

20,631,498

3.72%

63,000

80,000

300

8.63%

21,411,144

3.76%

80,000

97,000

237

6.97%

21,022,199

3.79%

80,000

97,000

239

6.87%

21,193,146

3.72%

97,000

114,000

264

7.76%

27,934,980

5.04%

97,000

114,000

270

7.76%

28,550,535

5.01%

114,000

129,000

267

7.85%

32,506,478

5.86%

114,000

131,000

295

8.48%

36,121,896

6.34%

129,000

169,000

493

14.50%

73,704,636

13.29%

131,000

170,000

495

14.23%

74,709,942

13.11%

169,000

209,000

335

9.85%

62,710,490

11.31%

170,000

209,000

335

9.63%

62,984,503

11.05%

209,000

249,000

231

6.79%

52,115,551

9.40%

209,000

248,000

237

6.81%

53,462,167

9.38%

249,000

289,000

182

5.35%

48,888,121

8.82%

248,000

287,000

180

5.18%

48,052,481

8.43%

289,000

327,000

120

3.53%

36,783,233

6.63%

287,000

328,000

138

3.97%

42,171,681

7.40%

327,000

910,000

342

10.06%

150,040,912

27.06%

328,000

911,000

348

10.01%

153,238,118

26.88%

3,400

100.00%

554,392,145

100.00%

3,478

100.00%

569,982,363

100.00%

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

5.25%

6.98%

333

9.79%

79,661,248

14.37%

5.25%

6.98%

337

9.69%

80,733,823

14.16%

6.98%

7.31%

229

6.74%

50,208,822

9.06%

6.98%

7.31%

233

6.70%

50,965,767

8.94%

7.31%

7.64%

266

7.82%

56,515,309

10.19%

7.31%

7.64%

270

7.76%

57,149,067

10.03%

7.64%

7.97%

315

9.26%

67,475,142

12.17%

7.64%

7.97%

324

9.32%

69,872,667

12.26%

7.97%

8.30%

267

7.85%

52,995,259

9.56%

7.97%

8.30%

274

7.88%

54,679,454

9.59%

8.30%

8.63%

294

8.65%

54,159,866

9.77%

8.30%

8.64%

301

8.65%

55,533,944

9.74%

8.63%

9.09%

365

10.74%

61,851,933

11.16%

8.64%

9.09%

380

10.93%

64,754,887

11.36%

9.09%

9.56%

267

7.85%

39,843,540

7.19%

9.09%

9.56%

271

7.79%

40,728,349

7.15%

9.56%

10.03%

385

11.32%

37,829,774

6.82%

9.56%

10.03%

399

11.47%

40,255,119

7.06%

10.03%

10.50%

192

5.65%

17,850,121

3.22%

10.03%

10.50%

193

5.55%

17,983,043

3.16%

10.50%

10.98%

104

3.06%

10,407,797

1.88%

10.50%

10.98%

112

3.22%

11,334,876

1.99%

10.98%

16.38%

383

11.26%

25,593,333

4.62%

10.98%

14.11%

384

11.04%

25,991,365

4.56%

3,400

100.00%

554,392,145

100.00%

3,478

100.00%

569,982,363

100.00%

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

Mortgage Loan Characteristics Part I

Distribution by Current Ending Principal Balance

Distribution by Current Mortgage Rate

Distribution by Cut-off Principal Balance

Distribution by Original Mortgage Rate

20-Jun-2006 13:52

2,409

464,442,100

83.78%

355.12

8.13%

2,470

478,182,663

83.89%

360.00

8.14%

314

47,590,104

8.58%

341.54

7.75%

319

48,546,264

8.52%

347.14

7.76%

677

42,359,941

7.64%

174.55

10.68%

689

43,253,437

7.59%

180.89

10.68%

3,400

554,392,145

100.00%

3,478

569,982,363

100.00%

2,653

421,827,138

76.09%

341.22

8.33%

2,718

434,739,664

76.27%

346.42

8.34%

385

72,170,565

13.02%

333.73

8.15%

392

73,853,175

12.96%

338.77

8.15%

247

36,836,903

6.64%

335.04

8.32%

249

37,017,912

6.49%

339.78

8.32%

112

22,597,824

4.08%

348.45

7.98%

115

23,150,841

4.06%

353.57

7.98%

615,915

0.11%

355.00

7.93%

876,972

0.15%

360.00

8.77%

343,800

0.06%

357.00

9.60%

343,800

0.06%

360.00

9.60%

3,400

554,392,145

100.00%

3,478

569,982,363

100.00%

SF Unattached Dwelling

PUD

Condo - Low Facility

Multifamily

SF Attached Dwelling

Condo - High Facility

Total

SF Unattached Dwelling

PUD

Condo - Low Facility

Multifamily

SF Attached Dwelling

Condo - High Facility

Total

WAMM

WAC

Adjustable

Fixed 1st Lien

Fixed 2nd Lien

Property Type

# of Loans

Ending Scheduled

Balance

% of

Balance

Property Type

# of

Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

# of

Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

Distribution by Product Characteristics (Current)

Mortgage Loan Characteristics Part II

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

WAMM

WAC

Distribution by Product Characteristics (Cut-off)

Product Type

# of Loans

Original Principal

Balance

% of

Balance

Product Type

Distribution by Property Types (Current)

Total

Distribution by Property Types (Cut-off)

Adjustable

Fixed 1st Lien

Fixed 2nd Lien

20-Jun-2006 13:52

Mortgage Loan Characteristics Part II

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

3,096

513,025,873

92.54%

339.19

8.25%

3,163

527,207,627

92.50%

344.34

8.26%

269

36,309,118

6.55%

352.66

8.85%

279

37,607,860

6.60%

357.73

8.85%

5,057,154

0.91%

348.83

8.65%

5,166,877

0.91%

353.81

8.69%

3,400

554,392,145

100.00%

3,478

569,982,363

100.00%

1,962

287,739,334

51.90%

332.40

8.35%

1,999

293,430,143

51.48%

337.45

8.36%

1,259

234,742,354

42.34%

350.00

8.21%

1,296

243,756,324

42.77%

355.04

8.22%

179

31,910,456

5.76%

337.65

8.41%

183

32,795,896

5.75%

343.35

8.40%

3,400

554,392,145

100.00%

3,478

569,982,363

100.00%

Total

Purchase

Refinance/Equity Takeout

Refinance/No Cash Out

Total

Distribution by Loan Purpose (Cut-off)

Loan Purpose

# of Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

Refinance/No Cash Out

WAMM

WAC

Purchase

Refinance/Equity Takeout

Loan Purpose

# of

Loans

Ending Scheduled

Balance

% of

Balance

Total

Distribution by Loan Purpose (Current)

Total

Owner Occupied - Secondary Residence

Distribution by Occupancy Type (Cut-off)

Occupancy Type

# of Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

Owner Occupied - Primary Residence

Non-Owner Occupied

Owner Occupied - Primary Residence

Non-Owner Occupied

Owner Occupied - Secondary Residence

Distribution by Occupancy Type (Current)

Occupancy Type

# of

Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

20-Jun-2006 13:52

Mortgage Loan Characteristics Part II

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

1,370

221,389,220

39.93%

334.85

8.18%

1,400

227,517,802

39.92%

340.02

8.18%

994

138,305,327

24.95%

352.21

8.55%

1,020

142,945,356

25.08%

357.62

8.56%

369

81,729,166

14.74%

332.00

8.39%

383

84,383,045

14.80%

336.88

8.41%

Impac

Acoustic

First Horizon

Distribution by Originator Concentration > 10% (Current)

Distribution by Originator Concentration > 10% (Cut-off)

Originator

# of

Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

Originator

# of Loans

Ending Scheduled

Balance

% of

Balance

WAMM

WAC

20-Jun-2006 13:52

WAMM

WAC

California

716

175,853,840

31.72%

333

8.07%

Florida

442

69,825,063

12.59%

344

8.25%

Maryland

182

32,805,226

5.92%

337

8.33%

Arizona

181

27,509,684

4.96%

342

8.11%

Illinois

172

25,097,153

4.53%

339

8.10%

Georgia

158

20,718,143

3.74%

342

8.65%

Virginia

101

18,319,569

3.30%

342

8.45%

Texas

129

14,852,775

2.68%

349

8.58%

Nevada

14,050,708

2.53%

341

8.07%

Washington

13,972,545

2.52%

338

8.20%

Remaining

1,161

141,387,438

25.50%

347

8.58%

WAMM

WAC

California

728

179,388,705

31.47%

338

8.08%

Florida

451

71,198,417

12.49%

349

8.25%

Maryland

188

34,185,692

6.00%

342

8.39%

Arizona

187

28,454,810

4.99%

347

8.15%

Illinois

185

27,563,837

4.84%

344

8.13%

Georgia

159

20,821,111

3.65%

347

8.65%

Virginia

105

19,241,747

3.38%

348

8.46%

Texas

130

14,946,975

2.62%

354

8.59%

Washington

14,479,576

2.54%

343

8.21%

Nevada

14,062,214

2.47%

346

8.07%

Remaining

1,186

145,639,278

25.55%

352

8.58%

(1)

Based on Current Period Ending Principal Balance

Top 10 Original State Concentration

Geographic Distribution

# of

Loans

Scheduled
Balance

(1)

% of

Balance

Top 10 Current State Concentration

Geographic Distribution

# of

Loans

Scheduled
Balance

(1)

% of

Balance

Distribution Date: 25-May-06

Geographic Concentration

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Top 10 Current State Concentration

California

Arizona

Maryland

Florida

Washington

Nevada

Texas

Virginia

Georgia

Illinois

Remaining

20-Jun-2006 13:52

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

Distribution Date: 25-May-06

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

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

Loss-Loan

Adjusted

Net Liquidation

Proceeds

Disclosure Control #

Period

Loss to Trust

Loss-Loan Non-

adjusted

20-Jun-2006 13:52

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-May-06

0.00

25-Apr-06

0.00

Total

0.00

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

Total (All Loans)

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

Historical Realized Loss Summary

Recovery on Prior

Liquidations

Claims on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

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

20-Jun-2006 13:52

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)

Distribution Date: 25-May-06

Realized Loss Summary

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

0.00%

0.57%

1.14%

1.71%

2.29%

2.86%

3.43%

4.00%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

0.00%

4.29%

8.57%

12.86%

17.14%

21.43%

25.71%

30.00%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

143%

286%

429%

571%

714%

857%

1000%

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

20-Jun-2006 13:52

197,722.06

6.00%

988.61

Total

197,722.06

197,518.41

988.61

844.44

Ending balance

Loan Rate

P&I Amount

Scheduled Interest

Disclosure Control #

Beginning

Balance

Scheduled

Principal

Unscheduled

Principal

Distribution Date: 25-May-06

Servicemembers Civil Relief Act

Interest Received

Relief Act Interest

Shortfall

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

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

Material Breach Description

Disclosure Control

Loan Group #

Ending Principal

Balance

Material Breach

Date

Distribution Date: 25-May-06

Material Breaches Detail

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

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.

Modification Description

Disclosure Control

Loan Group #

Modified Maturity

Date

Cutoff Maturity

Date

Distribution Date: 25-May-06

Modified Loan Detail

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

20-Jun-2006 13:52

Disclosure Control

Deleted and Replacement Mortgage Loan Detail

Revised Date: 20-Jun-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-HE2

Distribution Date: 25-May-06

Beginning Principal Balance

Deleted / Replacement

20-Jun-2006 13:52

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