Content:

Pages

Contact Information:

11/27/2006

Statement to Certificate Holders

Analyst:

Henry Brigham

714.259.6830

Statement to Certificate Holders (Factors)

henry.brigham@abnamro.com

Pool/Non-Pool Funds Cash Reconciliation

10/25/2006

Administrator:

Trevor Bradna

312.992.0668

Cash Reconciliation Summary

5-6

trevor.bradna@abnamro.com

Pool Detail and Performance Indicators

7-9

LaSalle Website:

www.etrustee.net

Bond Interest Reconciliation Part I

12/26/2006

Bond Interest Reconciliation Part II

Bond Principal Reconciliation

Outside Parties To The Transaction

Rating Information

10/31/2006

15 Month Loan Status Summary Part I

14-20

15 Month Loan Status Summary Part II

21-27

15 Month Historical Payoff Summary

28-30

Prepayment Summary

Mortgage Loan Characteristics Part I

Mortgage Loan Characteristics Part II

33-35

Geographic Concentration

6/30/2006

Current Period Realized Loss Detail

Historical Realized Loss Summary

38-40

Realized Loss Summary

7/25/2006

Servicemembers Civil Relief Act

Material Breaches Detail

Modified Loan Detail

Collateral Asset Changes

4/27/2037

Historical Collateral Level REO Report

46-48

11/15/2006

Delinq Method:

OTS

Determination Date:

15-Nov-06

First Pay. Date:

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

25-Jul-06

Rated Final

Payment Date:

27-Apr-37

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

Closing Date:

30-Jun-06

Master Servicer: Wilshire Credit Corporation

Record Date:

31-Oct-06

Distribution Count:

Depositor: Merrill Lynch Mortgage Investors, Inc.

Prior Payment:

25-Oct-06

Next Payment:

26-Dec-06

ABN AMRO Acct : 723848.1

Payment Date:

27-Nov-06

Distribution Date: 27-Nov-06

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:28

A-1

59021AAP3

204,693,000.00

178,889,078.25

8,737,113.11

0.00

170,151,965.14

896,979.65

0.00

5.4700000000%

A-2A

59021AAA6

71,473,000.00

55,369,382.70

1,868,711.54

0.00

53,500,671.16

273,063.34

0.00

5.3800000000%

A-2B

59021AAB4

22,046,000.00

0.00

22,046,000.00

109,733.97

0.00

5.4300000000%

A-2C

59021AAC2

22,555,000.00

0.00

22,555,000.00

113,301.28

0.00

5.4800000000%

A-2D

59021AAD0

8,784,000.00

0.00

8,784,000.00

44,930.16

0.00

5.5800000000%

M-1

59021AAE8

28,341,000.00

0.00

28,341,000.00

146,003.39

0.00

5.6200000000%

M-2

59021AAF5

18,894,000.00

0.00

18,894,000.00

97,855.18

0.00

5.6500000000%

M-3

59021AAG3

8,349,000.00

0.00

8,349,000.00

43,393.93

0.00

5.6700000000%

M-4

59021AAH1

7,470,000.00

0.00

7,470,000.00

39,030.75

0.00

5.7000000000%

M-5

59021AAJ7

7,470,000.00

0.00

7,470,000.00

39,304.65

0.00

5.7400000000%

M-6

59021AAK4

6,811,000.00

0.00

6,811,000.00

36,086.95

0.00

5.7800000000%

B-1

59021AAL2

6,591,000.00

0.00

6,591,000.00

37,881.77

0.00

6.2700000000%

B-2

59021AAM0

5,932,000.00

0.00

5,932,000.00

35,453.59

0.00

6.5200000000%

B-3

59021AAN8

5,274,000.00

0.00

5,274,000.00

35,630.27

0.00

7.3700000000%

59021AAQ1

439,401,071.00 N

397,495,396.95

0.00

386,889,572.30

664,498.00

(30,120.49)

2.0969857498%

59021AAR9

0.00

56,402.31

N/A

59021AAS7

100.00

0.00

N/A

Total

424,683,100.00

382,775,460.95

10,605,824.65

0.00

372,169,636.30

2,669,549.19

26,281.82

Total P&I Payment

13,275,373.84

Revised Date: 06-Dec-06

Distribution Date: 27-Nov-06

Pass-Through

Rate

Deferred Interest

Ending Certificate

Balance

Interest Payment

(2)

Bond Payment

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Principal

Adjustment or 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

Interest

Adjustment

06-Dec-2006 07:28

Page 2 of 48

A-1

59021AAP3

204,693,000.00

873.938426082

42.683985823

0.000000000

831.254440259

4.382072909

0.000000000

5.47000000%

A-2A

59021AAA6

71,473,000.00

774.689500930

26.145698935

0.000000000

748.543801995

3.820510403

0.000000000

5.38000000%

A-2B

59021AAB4

22,046,000.00

1000.000000000

0.000000000

1000.000000000

4.977500227

0.000000000

5.43000000%

A-2C

59021AAC2

22,555,000.00

1000.000000000

0.000000000

1000.000000000

5.023333186

0.000000000

5.48000000%

A-2D

59021AAD0

8,784,000.00

1000.000000000

0.000000000

1000.000000000

5.115000000

0.000000000

5.58000000%

M-1

59021AAE8

28,341,000.00

1000.000000000

0.000000000

1000.000000000

5.151666843

0.000000000

5.62000000%

M-2

59021AAF5

18,894,000.00

1000.000000000

0.000000000

1000.000000000

5.179166931

0.000000000

5.65000000%

M-3

59021AAG3

8,349,000.00

1000.000000000

0.000000000

1000.000000000

5.197500299

0.000000000

5.67000000%

M-4

59021AAH1

7,470,000.00

1000.000000000

0.000000000

1000.000000000

5.225000000

0.000000000

5.70000000%

M-5

59021AAJ7

7,470,000.00

1000.000000000

0.000000000

1000.000000000

5.261666667

0.000000000

5.74000000%

M-6

59021AAK4

6,811,000.00

1000.000000000

0.000000000

1000.000000000

5.298333578

0.000000000

5.78000000%

B-1

59021AAL2

6,591,000.00

1000.000000000

0.000000000

1000.000000000

5.747499621

0.000000000

6.27000000%

B-2

59021AAM0

5,932,000.00

1000.000000000

0.000000000

1000.000000000

5.976667229

0.000000000

6.52000000%

B-3

59021AAN8

5,274,000.00

1000.000000000

0.000000000

1000.000000000

6.755834281

0.000000000

7.37000000%

59021AAQ1

439,401,071.00 N

904.630013863

0.000000000

880.493011588

1.512281248

(0.068548968)

N/A

59021AAR9

0.00

0.000000000

N/A

59021AAS7

100.00

0.000000000

N/A

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

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Next Rate **

Deferred Interest *

Ending Certificate

Balance *

Interest Payment *

Interest Adjustment*

Statement to Certificate Holders (FACTORS)

Distribution Date: 27-Nov-06

Series 2006-FM1

Mortgage Loan Asset-Backed Certificates

Bond Payment

Principal

Adjustment or

Loss

Original Face

Value

Class

CUSIP

Beginning Certificate

Balance *

Principal Payment

06-Dec-2006 07:28

Page 3 of 48

Interest Summary

Principal Summary

Cap Contracts

Interest Summary

Principal Summary

Class A-1

0.00

Scheduled Interest

2,808,890.43

Scheduled Prin Distribution

181,972.42

Class A-2

0.00

Fees

165,693.08

Curtailments

224,025.74

Floating Rate Subordinate Certificates

0.00

Remittance Interest

2,643,197.35

Prepayments in Full

10,172,336.06

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

(1,733.90)

Supplemental Interest Trust

Prepayment Penalties

56,402.31

Repurchase Proceeds

0.00

Other Interest Loss

0.00

Other Principal Proceeds

0.00

Net Swap Payments received

0.00

Other Interest Proceeds

0.00

Remittance Principal

10,576,600.32

Net Swap Payments paid

0.00

Non-advancing Interest

(181.00)

Non-Supported Interest Shortfall

0.00

Swap Termination Payments received

0.00

Relief Act Shortfall

(645.16)

Swap Termination Payments paid

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

55,576.15

Defaulted Swap Termination Payments

0.00

Interest Adjusted

2,698,773.50

Fee Summary

Total Servicing Fees

165,623.08

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

70.00

Insurance Premium

0.00

Total Fees

165,693.08

Advances (Principal & Interest)

Prior Month's Outstanding Advances

4,232,313.72

Current Advances

2,721,860.93

Reimbursement of Prior Advances

2,544,070.00

Outstanding Advances

4,410,102.61

P&I Due Certificate Holders

13,275,373.82

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: 27-Nov-06

Cash Reconciliation Summary

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:28

Page 4 of 48

Fixed

ARM

Total

Interest Summary

Scheduled Interest

208,548.17

1,546,230.08

1,754,778.25

Fees

10,987.92

92,003.85

102,991.78

Remittance Interest

197,560.25

1,454,226.23

1,651,786.47

Other Interest Proceeds/Shortfalls

Prepayment Penalties

1,800.34

50,098.81

51,899.15

Other Interest Loss

(163.88)

(481.28)

(645.16)

Other Interest Proceeds

0.00

Non-advancing Interest

(22.00)

(107.00)

(129.00)

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

1,614.46

49,510.53

51,124.99

Interest Adjusted

199,174.71

1,503,736.76

1,702,911.46

Principal Summary

Scheduled Principal Distribution

17,016.23

105,630.75

122,646.98

Curtailments

534.83

229,218.83

229,753.66

Prepayments in Full

367,708.40

7,994,662.87

8,362,371.27

Liquidation Proceeds

(1,733.90)

0.00

(1,733.90)

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

383,525.56

8,329,512.45

8,713,038.01

Fee Summary

Total Servicing Fees

10,987.92

91,978.85

102,966.78

Total Trustee Fees

0.00

LPMI Fees

0.00

Misc. Fees

0.00

25.00

Total Fees

10,987.92

92,003.85

102,991.78

Beginning Principal Balance

26,371,016.19

220,749,246.17

247,120,262.36

Ending Principal Balance

25,958,266.30

212,419,733.72

238,378,000.02

Advances (Principal & Interest)

Prior Month's Outstanding Advances

276,374.04

2,302,735.16

2,579,109.20

Current Advances

208,246.38

1,480,867.24

1,689,113.62

Reimbursement of Prior Advances

179,783.07

1,422,258.20

1,602,041.27

Outstanding Advances

304,837.35

2,361,344.20

2,666,181.55

Distribution Date: 27-Nov-06

Cash Reconciliation Summary Group I

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:28

Page 5 of 48

Distribution Date: 27-Nov-06

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Fixed

ARM

Total

Interest Summary

Scheduled Interest

152,499.17

901,613.01

1,054,112.18

Fees

7,730.65

54,970.65

62,701.31

Remittance Interest

144,768.52

846,642.36

991,410.87

Other Interest Proceeds/Shortfalls

Prepayment Penalties

0.00

4,503.16

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

0.00

(52.00)

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

0.00

4,451.16

Interest Adjusted

144,768.52

851,093.52

995,862.03

Principal Summary

Scheduled Principal Distribution

10,343.01

48,982.43

59,325.44

Curtailments

(5,610.56)

(117.36)

(5,727.92)

Prepayments in Full

195,780.13

1,614,184.66

1,809,964.79

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

200,512.58

1,663,049.73

1,863,562.31

Fee Summary

Total Servicing Fees

7,705.65

54,950.65

62,656.31

Total Trustee Fees

0.00

LPMI Fees

0.00

Misc. Fees

25.00

20.00

45.00

Total Fees

7,730.65

54,970.65

62,701.31

Beginning Principal Balance

18,493,570.63

131,881,563.96

150,375,134.59

Ending Principal Balance

18,293,058.05

130,218,514.23

148,511,572.28

Advances (Principal & Interest)

Prior Month's Outstanding Advances

202,580.24

1,450,624.28

1,653,204.52

Current Advances

144,594.66

888,152.65

1,032,747.31

Reimbursement of Prior Advances

135,745.18

806,285.59

942,030.77

Outstanding Advances

211,429.72

1,532,491.34

1,743,921.06

Cash Reconciliation Summary Group II

06-Dec-2006 07:28

Page 6 of 48

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

439,401,070.56

1,991

3 mo. Rolling Average

23,344,154

397,581,997

5.91%

WAC - Remit Current

9.16%

7.83%

7.98%

Cum Scheduled Principal

940,899.14

6 mo. Rolling Average

15,390,760

408,194,813

3.87%

WAC - Remit Original

9.18%

7.84%

7.99%

Cum Unscheduled Principal

51,543,108.70

12 mo. Rolling Average

15,390,760

408,194,813

3.87%

WAC - Current

9.66%

8.33%

8.48%

Cum Liquidations

27,490.43

Loss Levels

Amount

Count

WAC - Original

9.68%

8.34%

8.49%

Cum Repurchases

0.00

3 mo. Cum Loss

29,224.33

WAL - Current

344.58

351.69

350.88

6 mo. Cum loss

29,224.33

WAL - Original

348.46

355.69

354.90

Current

Amount

Count

12 mo. Cum Loss

29,224.33

Beginning Pool

397,495,396.95

1,827

90.46%

Current Index Rate

Scheduled Principal

181,972.42

0.04%

Triggers

Next Index Rate

Unscheduled Principal

10,396,361.80

2.37%

Liquidations

27,490.43

0.01%

> Delinquency Trigger Event

(2)

Prepayment Charges

Repurchases

0.00

0.00%

Delinquency Event Calc

(1)

29,555,982.32

386,889,572

7.64%

Amount

Count

Ending Pool

386,889,572.30

1,783

88.05%

Current

> Loss Trigger Event?

(3)

Cumulative

Ending Actual Balance

387,145,951.60

Cumulative Loss

29,224

0.01%

Average Loan Balance

216,987.98

> Overall Trigger Event?

Pool Composition

Current Loss Detail

Amount

Step Down Date

Liquidation

27,490.43

Distribution Count

Properties

%/Score

Realized Loss

29,224.33

Required Percentage

(4)

N/A

Cut-off LTV

80.74%

Realized Loss Adjustment

0.00

Step Down %

(5)

53.50%

Cash Out/Refinance

56.98%

Net Liquidation

(1,733.90)

% of Required Percentage

(6)

34.40%

SFR

81.83%

Credit Enhancement

Amount

> Step Down Date?

Min

Max

Original OC

14,717,970.56

3.35%

Extra Principal

29,224.33

FICO

500

795

618.95

Target OC

14,719,936.00

3.35%

Cumulative Extra Principal

31,189.77

Beginning OC

14,719,936.00

OC Release

N/A

Ending OC

14,719,936.00

Most Senior Certificates

287,643,460.95

94.64%

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)
Note: Delinquency and Loss Event Triggers may be flagged as "Yes" prior to the Step Down Date on account of the percentage thresholds being breached.

250,374,627.44
359,548,380.79

Owner Occupied

415,838,353.78

56,402.31

430,940.21

Balance

354,778,428.67

Misc/Additional Information

Pool Level Information

5.320000%
5.320000%

Distribution Date: 27-Nov-06

Pool Detail and Performance Indicators Total (All Loans)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:28

Page 7 of 48

Distribution Date: 27-Nov-06

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

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

272,923,306.12

1,419

3 mo. Rolling Average

13,225,404

246,712,272

5.40%

WAC - Remit Current

8.99%

7.91%

8.02%

Cum Scheduled Principal

635,023.65

6 mo. Rolling Average

8,436,755

253,923,964

3.43%

WAC - Remit Original

8.99%

7.92%

8.03%

Cum Unscheduled Principal

33,882,792.03

12 mo. Rolling Average

8,436,755

253,923,964

3.43%

WAC - Current

9.49%

8.41%

8.52%

Cum Liquidations

27,490.43

Loss Levels

Amount

Count

WAC - Original

9.49%

8.42%

8.53%

Cum Repurchases

0.00

3 mo. Cum Loss

29,224.33

WAL - Current

343.04

351.69

350.75

6 mo. Cum loss

29,224.33

WAL - Original

347.01

355.68

354.79

Current

Amount

Count

12 mo. Cum Loss

29,224.33

Beginning Pool

247,120,262.36

1,299

90.55%

Scheduled Principal

122,646.98

0.04%

Unscheduled Principal

8,592,124.93

3.15%

Liquidations

27,490.43

0.01%

Prepayment Charges

Repurchases

0.00

0.00%

Amount

Count

Ending Pool

238,378,000.02

1,261

87.34%

Current

Cumulative

Ending Actual Balance

238,547,889.95

Average Loan Balance

189,038.86

Pool Composition

Current Loss Detail

Amount

Liquidation

27,490.43

Properties

%/Score

Realized Loss

29,224.33

Cut-off LTV

79.78%

Realized Loss Adjustment

0.00

Cash Out/Refinance

54.30%

Net Liquidation

(1,733.90)

SFR

78.42%

Min

Max

FICO

500

795

614.25

94.40%

148,201,003.76
214,026,983.76

Owner Occupied

257,631,273.20

51,899.15

263,818.39

Balance

217,724,454.13

Misc/Additional Information

Pool Level Information

Pool Detail and Performance Indicators Group I

06-Dec-2006 07:28

Page 8 of 48

Distribution Date: 27-Nov-06

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

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

166,477,764.44

572

3 mo. Rolling Average

10,118,750

150,869,725

6.73%

WAC - Remit Current

9.40%

7.70%

7.91%

Cum Scheduled Principal

305,875.49

6 mo. Rolling Average

6,954,006

154,270,849

4.60%

WAC - Remit Original

9.45%

7.71%

7.92%

Cum Unscheduled Principal

17,660,316.67

12 mo. Rolling Average

6,954,006

154,270,849

4.60%

WAC - Current

9.90%

8.20%

8.41%

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAC - Original

9.95%

8.21%

8.42%

Cum Repurchases

0.00

3 mo. Cum Loss

0.00

WAL - Current

346.78

351.69

351.08

6 mo. Cum loss

0.00

WAL - Original

350.59

355.69

355.10

Current

Amount

Count

12 mo. Cum Loss

0.00

Beginning Pool

150,375,134.59

528

90.33%

Scheduled Principal

59,325.44

0.04%

Unscheduled Principal

1,804,236.87

1.08%

Liquidations

0.00

0.00%

Prepayment Charges

Repurchases

0.00

0.00%

Amount

Count

Ending Pool

148,511,572.28

522

89.21%

Current

Cumulative

Ending Actual Balance

148,598,061.65

Average Loan Balance

284,504.93

Pool Composition

Current Loss Detail

Amount

Liquidation

0.00

Properties

%/Score

Realized Loss

0.00

Cut-off LTV

82.33%

Realized Loss Adjustment

0.00

Cash Out/Refinance

61.37%

Net Liquidation

0.00

SFR

87.41%

Min

Max

FICO

500

792

626.49

95.03%

102,173,623.68
145,521,397.03

Owner Occupied

158,207,080.58

4,503.16

167,121.82

Balance

137,053,974.54

Misc/Additional Information

Pool Level Information

Pool Detail and Performance Indicators Group II

06-Dec-2006 07:28

Page 9 of 48

A-1

Act/360

178,889,078.25

5.470000000%

896,979.65

0.00

896,979.65

0.00

A-2A

Act/360

55,369,382.70

5.380000000%

273,063.34

0.00

273,063.34

0.00

A-2B

Act/360

22,046,000.00

5.430000000%

109,733.97

0.00

109,733.97

0.00

A-2C

Act/360

22,555,000.00

5.480000000%

113,301.28

0.00

113,301.28

0.00

A-2D

Act/360

8,784,000.00

5.580000000%

44,930.16

0.00

44,930.16

0.00

M-1

Act/360

28,341,000.00

5.620000000%

146,003.39

0.00

146,003.39

0.00

M-2

Act/360

18,894,000.00

5.650000000%

97,855.18

0.00

97,855.18

0.00

M-3

Act/360

8,349,000.00

5.670000000%

43,393.93

0.00

43,393.93

0.00

M-4

Act/360

7,470,000.00

5.700000000%

39,030.75

0.00

39,030.75

0.00

M-5

Act/360

7,470,000.00

5.740000000%

39,304.65

0.00

39,304.65

0.00

M-6

Act/360

6,811,000.00

5.780000000%

36,086.95

0.00

36,086.95

0.00

B-1

Act/360

6,591,000.00

6.270000000%

37,881.77

0.00

37,881.77

0.00

B-2

Act/360

5,932,000.00

6.520000000%

35,453.59

0.00

35,453.59

0.00

B-3

Act/360

5,274,000.00

7.370000000%

35,630.27

0.00

35,630.27

0.00

30/360

397,495,396.95

2.096985750%

694,618.49

0.00

698,732.02

664,498.00

0.00

N/A

0.00

N/A

0.00

56,402.31

0.00

56,402.31

0.00

N/A

0.00

N/A

0.00

Total

382,775,460.95

2,643,267.37

56,402.31

0.00

2,703,783.21

2,669,549.19

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: 06-Dec-06

Class

Accrual

Certificate

Interest

Distribution Date: 27-Nov-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-FM1

- - - - - Outstanding - - - -

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

06-Dec-2006 07:29

Page 10 of 48

A-1

31-Oct-06

25-Oct-06

27-Nov-06

0.00

A-2A

31-Oct-06

25-Oct-06

27-Nov-06

0.00

A-2B

31-Oct-06

25-Oct-06

27-Nov-06

0.00

A-2C

31-Oct-06

25-Oct-06

27-Nov-06

0.00

A-2D

31-Oct-06

25-Oct-06

27-Nov-06

0.00

M-1

31-Oct-06

25-Oct-06

27-Nov-06

0.00

M-2

31-Oct-06

25-Oct-06

27-Nov-06

0.00

M-3

31-Oct-06

25-Oct-06

27-Nov-06

0.00

M-4

31-Oct-06

25-Oct-06

27-Nov-06

0.00

M-5

31-Oct-06

25-Oct-06

27-Nov-06

0.00

M-6

31-Oct-06

25-Oct-06

27-Nov-06

0.00

B-1

31-Oct-06

25-Oct-06

27-Nov-06

0.00

B-2

31-Oct-06

25-Oct-06

27-Nov-06

0.00

B-3

31-Oct-06

25-Oct-06

27-Nov-06

0.00

31-Oct-06

1-Oct-06

1-Nov-06

0.00

31-Oct-06

1-Oct-06

1-Nov-06

0.00

56,402.31

0.00

31-Oct-06

25-Oct-06

27-Nov-06

0.00

Total

0.00

56,402.31

0.00

Prior Interest Due

Date

Current Interest

Due Date

Floating Rate

Cartificate Carry-

Over

Other Interest

Proceeds

(1)

Revised Date: 06-Dec-06

Class

Supplemental

Interest Trust

Payments From

Cap Contracts

Interest Carry-

Forward

Distribution Date: 27-Nov-06

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Merrill Lynch Mortgage Investors Trust

Interest Carry-

Forward

(2)

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

06-Dec-2006 07:29

Page 11 of 48

A-1

204,693,000.00

178,889,078.25

122,646.98

8,590,391.03

24,075.10

0.00

170,151,965.14

27-Apr-37

25.00%

28.39%

A-2A

71,473,000.00

55,369,382.70

59,325.44

1,804,236.87

5,149.23

0.00

53,500,671.16

27-Apr-37

25.00%

28.39%

A-2B

22,046,000.00

0.00

22,046,000.00

27-Apr-37

25.00%

28.39%

A-2C

22,555,000.00

0.00

22,555,000.00

27-Apr-37

25.00%

28.39%

A-2D

8,784,000.00

0.00

8,784,000.00

27-Apr-37

25.00%

28.39%

M-1

28,341,000.00

0.00

28,341,000.00

27-Apr-37

18.55%

21.07%

M-2

18,894,000.00

0.00

18,894,000.00

27-Apr-37

14.25%

16.18%

M-3

8,349,000.00

0.00

8,349,000.00

27-Apr-37

12.35%

14.03%

M-4

7,470,000.00

0.00

7,470,000.00

27-Apr-37

10.65%

12.10%

M-5

7,470,000.00

0.00

7,470,000.00

27-Apr-37

8.95%

10.17%

M-6

6,811,000.00

0.00

6,811,000.00

27-Apr-37

7.40%

8.40%

B-1

6,591,000.00

0.00

6,591,000.00

27-Apr-37

5.90%

6.70%

B-2

5,932,000.00

0.00

5,932,000.00

27-Apr-37

4.55%

5.17%

B-3

5,274,000.00

0.00

5,274,000.00

27-Apr-37

3.35%

3.80%

439,401,071.00

397,495,396.95

0.00

386,889,572.30

27-Apr-37

N/A

0.00

27-Apr-37

N/A

100.00

0.00

27-Apr-37

25.00%

N/A

Total

424,683,100.00

382,775,460.95

181,972.42

10,394,627.90

29,224.33

0.00

372,169,636.30

Cumulative

Losses

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

Extra

Principal
Payment

Prior
Loss

Reimburs.

Bond Principal Reconciliation

Unscheduled

Principal
Payment

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

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: 27-Nov-06

06-Dec-2006 07:29

Page 12 of 48

Class

CUSIP

Fitch

Moody's

DBRS

S&P

A-1

59021AAP3

Aaa

AAA

A-2A

59021AAA6

Aaa

AAA

A-2B

59021AAB4

Aaa

AAA

A-2C

59021AAC2

Aaa

AAA

A-2D

59021AAD0

Aaa

AAA

M-1

59021AAE8

Aa1

AA+

M-2

59021AAF5

Aa2

M-3

59021AAG3

Aa3

AA-

M-4

59021AAH1

A+

M-5

59021AAJ7

M-6

59021AAK4

A-

B-1

59021AAL2

Baa1

BBB+

B-2

59021AAM0

Baa2

BBB

B-3

59021AAN8

Baa3

BBB-

59021AAQ1

59021AAR9

59021AAS7

AAA

Ratings Information

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

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: 27-Nov-06

06-Dec-2006 07:29

Page 13 of 48

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

27-Nov-06

1,561

337,652,038

19,681,552

8,419,703

7,566,103

171,507

13,288,607

110,063

25-Oct-06

1,639

354,093,157

18,161,421

12,186,309

4,469,167

86,741

8,498,601

25-Sep-06

1,720

372,044,791

21,080,567

10,675,240

2,139,788

2,420,634

25-Aug-06

1,832

400,222,730

14,356,003

3,952,216

1,295,075

131,715

25-Jul-06

1,923

422,055,741

4,672,263

1,295,486

246,847

27-Nov-06

87.55%

87.27%

5.16%

5.09%

2.24%

2.18%

1.57%

1.96%

0.11%

0.04%

3.31%

3.43%

0.06%

0.03%

25-Oct-06

89.71%

89.08%

4.32%

4.57%

2.68%

3.07%

1.15%

1.12%

0.05%

0.02%

2.08%

2.14%

0.00%

25-Sep-06

91.83%

91.11%

4.64%

5.16%

2.46%

2.61%

0.48%

0.52%

0.00%

0.59%

0.00%

25-Aug-06

95.42%

95.30%

3.39%

3.42%

0.89%

0.94%

0.26%

0.31%

0.00%

0.05%

0.03%

0.00%

25-Jul-06

98.56%

98.55%

1.08%

1.09%

0.26%

0.30%

0.00%

0.10%

0.06%

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:29

Page 14 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

1,115

209,394,129

11,928,266

5,783,500

2,158,382

84,805

8,918,856

110,063

25-Oct-06

1,172

221,468,935

11,744,376

6,709,378

2,939,777

4,257,797

25-Sep-06

1,231

233,617,638

12,307,259

6,716,305

1,231,951

765,400

25-Aug-06

1,315

251,464,874

8,635,112

1,604,203

262,360

131,715

25-Jul-06

1,377

264,786,101

2,089,356

262,435

246,847

27-Nov-06

88.42%

87.84%

4.92%

5.00%

2.22%

2.43%

1.11%

0.91%

0.08%

0.04%

3.17%

3.74%

0.08%

0.05%

25-Oct-06

90.22%

89.62%

4.39%

4.75%

2.39%

2.72%

1.31%

1.19%

0.00%

1.69%

1.72%

0.00%

25-Sep-06

92.14%

91.74%

4.57%

4.83%

2.32%

2.64%

0.52%

0.48%

0.00%

0.45%

0.30%

0.00%

25-Aug-06

95.92%

95.94%

3.14%

3.29%

0.80%

0.61%

0.07%

0.10%

0.00%

0.07%

0.05%

0.00%

25-Jul-06

98.78%

99.03%

1.00%

0.78%

0.07%

0.10%

0.00%

0.14%

0.09%

0.00%

Group I - Total

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

06-Dec-2006 07:29

Page 15 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

309

23,819,437

535,229

589,163

486,720

527,716

25-Oct-06

321

24,605,023

809,661

293,244

200,733

462,356

25-Sep-06

334

25,605,034

912,833

524,549

93,101

93,858

25-Aug-06

351

26,646,183

597,960

187,063

25-Jul-06

361

27,435,175

187,168

27-Nov-06

89.83%

91.76%

3.78%

2.06%

2.62%

2.27%

2.03%

1.88%

0.00%

1.74%

2.03%

0.00%

25-Oct-06

91.71%

93.30%

3.71%

3.07%

1.71%

1.11%

1.43%

0.76%

0.00%

1.43%

1.75%

0.00%

25-Sep-06

93.04%

94.03%

4.18%

3.35%

1.39%

1.93%

0.84%

0.34%

0.00%

0.56%

0.34%

0.00%

25-Aug-06

96.69%

97.14%

1.93%

2.18%

1.38%

0.68%

0.00%

25-Jul-06

98.63%

99.32%

1.37%

0.68%

0.00%

Group I - Fixed

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

06-Dec-2006 07:29

Page 16 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

806

185,574,692

11,393,036

5,194,336

1,671,661

84,805

8,391,140

110,063

25-Oct-06

851

196,863,912

10,934,715

6,416,134

2,739,044

3,795,442

25-Sep-06

897

208,012,604

11,394,426

6,191,756

1,138,850

671,543

25-Aug-06

964

224,818,690

8,037,151

1,417,139

262,360

131,715

25-Jul-06

1,016

237,350,926

1,902,189

262,435

246,847

27-Nov-06

87.90%

87.36%

5.34%

5.36%

2.07%

2.45%

0.76%

0.79%

0.11%

0.04%

3.71%

3.95%

0.11%

0.05%

25-Oct-06

89.67%

89.18%

4.64%

4.95%

2.63%

2.91%

1.26%

1.24%

0.00%

1.79%

1.72%

0.00%

25-Sep-06

91.81%

91.47%

4.71%

5.01%

2.66%

2.72%

0.41%

0.50%

0.00%

0.41%

0.30%

0.00%

25-Aug-06

95.63%

95.80%

3.57%

3.42%

0.60%

0.10%

0.11%

0.00%

0.10%

0.06%

0.00%

25-Jul-06

98.83%

98.99%

0.88%

0.79%

0.10%

0.11%

0.00%

0.19%

0.10%

0.00%

Group I - ARM

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

06-Dec-2006 07:29

Page 17 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

446

128,257,908

7,753,287

2,636,203

5,407,721

86,702

4,369,750

25-Oct-06

467

132,624,222

6,417,046

5,476,932

1,529,391

86,741

4,240,804

25-Sep-06

489

138,427,154

8,773,307

3,958,935

907,837

1,655,233

25-Aug-06

517

148,757,857

5,720,891

2,348,013

1,032,715

25-Jul-06

546

157,269,640

2,582,906

1,033,051

27-Nov-06

85.44%

86.36%

5.75%

5.22%

2.30%

1.78%

2.68%

3.64%

0.19%

0.06%

3.64%

2.94%

0.00%

25-Oct-06

88.45%

88.20%

4.17%

4.27%

3.41%

3.64%

0.76%

1.02%

0.19%

0.06%

3.03%

2.82%

0.00%

25-Sep-06

91.06%

90.05%

4.84%

5.71%

2.79%

2.58%

0.37%

0.59%

0.00%

0.93%

1.08%

0.00%

25-Aug-06

94.17%

94.23%

4.01%

3.62%

1.09%

1.49%

0.73%

0.65%

0.00%

25-Jul-06

98.03%

97.75%

1.26%

1.61%

0.72%

0.64%

0.00%

Group II - Total

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

06-Dec-2006 07:29

Page 18 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

116

16,279,371

1,204,206

197,559

527,182

84,740

25-Oct-06

128

17,562,209

221,440

465,771

159,377

84,774

25-Sep-06

131

17,714,070

685,976

84,807

159,439

25-Aug-06

136

18,345,930

84,840

278,296

25-Jul-06

138

18,463,132

278,399

27-Nov-06

85.93%

88.99%

8.15%

6.58%

2.22%

1.08%

2.96%

2.88%

0.00%

0.74%

0.46%

0.00%

25-Oct-06

93.43%

94.96%

2.19%

1.20%

2.92%

2.52%

0.73%

0.86%

0.00%

0.73%

0.46%

0.00%

25-Sep-06

94.93%

95.01%

3.62%

3.68%

0.72%

0.45%

0.72%

0.86%

0.00%

25-Aug-06

97.84%

98.06%

0.72%

0.45%

1.44%

1.49%

0.00%

25-Jul-06

98.57%

98.51%

1.43%

1.49%

0.00%

Group II - Fixed

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

06-Dec-2006 07:29

Page 19 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

330

111,978,538

6,549,081

2,438,644

4,880,539

86,702

4,285,010

25-Oct-06

339

115,062,013

6,195,606

5,011,160

1,370,014

86,741

4,156,031

25-Sep-06

358

120,713,084

8,087,331

3,874,129

748,398

1,655,233

25-Aug-06

381

130,411,927

5,636,051

2,069,717

1,032,715

25-Jul-06

408

138,806,508

2,304,508

1,033,051

27-Nov-06

85.27%

85.99%

4.91%

5.03%

2.33%

1.87%

2.58%

3.75%

0.26%

0.07%

4.65%

3.29%

0.00%

25-Oct-06

86.70%

87.25%

4.86%

4.70%

3.58%

3.80%

0.77%

1.04%

0.26%

0.07%

3.84%

3.15%

0.00%

25-Sep-06

89.72%

89.37%

5.26%

5.99%

3.51%

2.87%

0.25%

0.55%

0.00%

1.25%

1.23%

0.00%

25-Aug-06

92.93%

93.72%

5.12%

4.05%

0.98%

1.49%

0.98%

0.74%

0.00%

25-Jul-06

97.84%

97.65%

1.20%

1.62%

0.96%

0.73%

0.00%

Group II - ARM

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

06-Dec-2006 07:29

Page 20 of 48

Balance

27-Nov-06

91,300

13,197,307

110,063

84,805

86,702

25-Oct-06

25,726

8,472,875

86,741

25-Sep-06

2,420,634

25-Aug-06

131,715

25-Jul-06

115,074

131,773

27-Nov-06

0.00%

0.11%

0.02%

3.20%

3.41%

0.00%

0.06%

0.03%

0.06%

0.02%

0.00%

0.06%

0.02%

0.00%

25-Oct-06

0.00%

0.05%

0.01%

0.00%

2.03%

2.13%

0.00%

0.05%

0.02%

0.00%

25-Sep-06

0.00%

0.59%

0.00%

25-Aug-06

0.00%

0.05%

0.03%

0.00%

25-Jul-06

0.00%

0.03%

0.05%

0.03%

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:29

Page 21 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

91,300

8,827,557

110,063

84,805

25-Oct-06

25,726

4,232,071

25-Sep-06

765,400

25-Aug-06

131,715

25-Jul-06

115,074

131,773

27-Nov-06

0.00%

0.16%

0.04%

3.01%

3.70%

0.00%

0.08%

0.05%

0.08%

0.04%

0.00%

25-Oct-06

0.00%

0.08%

0.01%

0.00%

1.62%

1.71%

0.00%

25-Sep-06

0.00%

0.45%

0.30%

0.00%

25-Aug-06

0.00%

0.07%

0.05%

0.00%

25-Jul-06

0.00%

0.04%

0.07%

0.05%

0.00%

Group I - Total

06-Dec-2006 07:29

Page 22 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

91,300

436,417

25-Oct-06

25,726

436,630

25-Sep-06

93,858

25-Aug-06

25-Jul-06

27-Nov-06

0.00%

0.58%

0.35%

1.16%

1.68%

0.00%

25-Oct-06

0.00%

0.29%

0.10%

0.00%

1.14%

1.66%

0.00%

25-Sep-06

0.00%

0.56%

0.34%

0.00%

25-Aug-06

0.00%

25-Jul-06

0.00%

Group I - Fixed

06-Dec-2006 07:29

Page 23 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

8,391,140

110,063

84,805

25-Oct-06

3,795,442

25-Sep-06

671,543

25-Aug-06

131,715

25-Jul-06

115,074

131,773

27-Nov-06

0.00%

3.71%

3.95%

0.00%

0.11%

0.05%

0.11%

0.04%

0.00%

25-Oct-06

0.00%

1.79%

1.72%

0.00%

25-Sep-06

0.00%

0.41%

0.30%

0.00%

25-Aug-06

0.00%

0.10%

0.06%

0.00%

25-Jul-06

0.00%

0.05%

0.10%

0.05%

0.00%

Group I - ARM

06-Dec-2006 07:29

Page 24 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

4,369,750

86,702

25-Oct-06

4,240,804

86,741

25-Sep-06

1,655,233

25-Aug-06

25-Jul-06

27-Nov-06

0.00%

3.64%

2.94%

0.00%

0.19%

0.06%

0.00%

25-Oct-06

0.00%

3.03%

2.82%

0.00%

0.19%

0.06%

0.00%

25-Sep-06

0.00%

0.93%

1.08%

0.00%

25-Aug-06

0.00%

25-Jul-06

0.00%

Group II - Total

06-Dec-2006 07:29

Page 25 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

84,740

25-Oct-06

84,774

25-Sep-06

25-Aug-06

25-Jul-06

27-Nov-06

0.00%

0.74%

0.46%

0.00%

25-Oct-06

0.00%

0.73%

0.46%

0.00%

25-Sep-06

0.00%

25-Aug-06

0.00%

25-Jul-06

0.00%

Group II - Fixed

06-Dec-2006 07:29

Page 26 of 48

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: 27-Nov-06

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

4,285,010

86,702

25-Oct-06

4,156,031

86,741

25-Sep-06

1,655,233

25-Aug-06

25-Jul-06

27-Nov-06

0.00%

4.65%

3.29%

0.00%

0.26%

0.07%

0.00%

25-Oct-06

0.00%

3.84%

3.15%

0.00%

0.26%

0.07%

0.00%

25-Sep-06

0.00%

1.25%

1.23%

0.00%

25-Aug-06

0.00%

25-Jul-06

0.00%

Group II - ARM

06-Dec-2006 07:29

Page 27 of 48

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

27-Nov-06

1,783

386,889,572

10,172,336

0.00

(1,733.90)

29,224

351

8.48%

7.98%

25-Oct-06

1,827

397,495,397

10,655,958

0.00

352

8.48%

7.98%

25-Sep-06

1,873

408,361,020

11,398,578

0.00

353

8.49%

7.99%

25-Aug-06

1,920

419,957,739

8,112,794

0.00

354

8.49%

7.99%

25-Jul-06

1,951

428,270,337

10,922,543

0.00

355

8.49%

7.99%

27-Nov-06

344

25,958,266

367,708

0.00

-1,733.90

29,224

343

9.49%

8.99%

25-Oct-06

350

26,371,016

840,218

0.00

344

9.49%

8.99%

25-Sep-06

359

27,229,374

183,267

0.00

345

9.50%

9.00%

25-Aug-06

363

27,431,207

172,649

0.00

346

9.51%

9.01%

25-Jul-06

366

27,622,343

406,961

0.00

347

9.49%

8.99%

Curr Weighted Avg.

Total (All Loans)

Group I - Fixed

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 27-Nov-06

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

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:29

Page 28 of 48

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 27-Nov-06

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

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

917

212,419,734

7,994,663

0.00

352

8.41%

7.91%

25-Oct-06

949

220,749,246

6,536,379

0.00

353

8.41%

7.91%

25-Sep-06

977

227,409,179

7,144,492

0.00

354

8.42%

7.92%

25-Aug-06

1,008

234,667,056

4,977,970

0.00

355

8.42%

7.92%

25-Jul-06

1,028

239,762,397

4,994,158

0.00

356

8.42%

7.92%

27-Nov-06

135

18,293,058

195,780

0.00

347

9.90%

9.40%

25-Oct-06

137

18,493,571

136,740

0.00

348

9.91%

9.41%

25-Sep-06

138

18,644,292

50,296

0.00

349

9.92%

9.42%

25-Aug-06

139

18,709,065

18,336

0.00

350

9.92%

9.42%

25-Jul-06

140

18,741,531

674,439

0.00

351

9.95%

9.45%

Group I - ARM

Group II - Fixed

06-Dec-2006 07:29

Page 29 of 48

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

Curr Weighted Avg.

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 27-Nov-06

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

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

27-Nov-06

387

130,218,514

1,614,185

0.00

352

8.20%

7.70%

25-Oct-06

391

131,881,564

3,142,622

0.00

353

8.21%

7.71%

25-Sep-06

399

135,078,175

4,020,523

0.00

354

8.21%

7.71%

25-Aug-06

410

139,150,410

2,943,839

0.00

355

8.21%

7.71%

25-Jul-06

417

142,144,067

4,846,985

0.00

356

8.21%

7.71%

Group II - ARM

06-Dec-2006 07:29

Page 30 of 48

SMM (Single Monthly Mortality)

Total

Current Period

2.62%

3-Month Average

2.65%

6-Month Average

2.47%

12-Month Average

2.47%

Average Since Cut-Off

2.47%

CPR (Conditional Prepayment Rate)

Total

Current Period

27.31%

3-Month Average

27.57%

6-Month Average

25.87%

12-Month Average

25.87%

Average Since Cut-Off

25.87%

PSA (Public Securities Association)

Total

Current Period

455%

3-Month Average

460%

6-Month Average

431%

12-Month Average

431%

Average Since Cut-Off

431%

SMM

Single Monthly Mortality

(Partial and Full Prepayments + Repurchases + Liquidations + Other Principal Proceeds) / (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: 27-Nov-06

Prepayment Summary

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

0.00%

2.43%

4.86%

7.29%

9.71%

12.14%

14.57%

17.00%

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

0.00%

14.29%

28.57%

42.86%

57.14%

71.43%

85.71%

100.00%

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

229%

457%

686%

914%

1143%

1371%

1600%

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

06-Dec-2006 07:29

Page 31 of 48

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

4,000

50,000

181

10.15%

6,066,874

1.57%

4,000

51,000

204

10.25%

7,061,086

1.61%

50,000

76,000

140

7.85%

8,713,301

2.25%

51,000

77,000

150

7.53%

9,636,124

2.19%

76,000

102,000

148

8.30%

13,031,163

3.37%

77,000

103,000

159

7.99%

14,222,425

3.24%

102,000

128,000

163

9.14%

18,876,840

4.88%

103,000

129,000

167

8.39%

19,486,153

4.43%

128,000

154,000

128

7.18%

18,111,327

4.68%

129,000

155,000

151

7.58%

21,548,542

4.90%

154,000

179,000

138

7.74%

22,939,538

5.93%

155,000

183,000

166

8.34%

28,026,989

6.38%

179,000

230,000

222

12.45%

45,185,915

11.68%

183,000

234,000

242

12.15%

50,038,037

11.39%

230,000

281,000

156

8.75%

40,074,666

10.36%

234,000

285,000

190

9.54%

49,417,549

11.25%

281,000

332,000

129

7.23%

39,307,716

10.16%

285,000

336,000

145

7.28%

44,913,680

10.22%

332,000

383,000

120

6.73%

42,569,223

11.00%

336,000

387,000

134

6.73%

48,149,407

10.96%

383,000

435,000

4.49%

32,682,071

8.45%

387,000

437,000

4.17%

34,183,699

7.78%

435,000

1,184,000

178

9.98%

99,330,938

25.67%

437,000

1,185,000

200

10.05%

112,717,379

25.65%

1,783

100.00%

386,889,572

100.00%

1,991

100.00%

439,401,071

100.00%

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

5.38%

7.30%

172

9.65%

54,785,824

14.16%

5.38%

7.34%

198

9.94%

63,866,767

14.53%

7.30%

7.58%

5.44%

26,943,781

6.96%

7.34%

7.63%

122

6.13%

33,845,427

7.70%

7.58%

7.86%

147

8.24%

43,639,553

11.28%

7.63%

7.91%

163

8.19%

48,189,316

10.97%

7.86%

8.14%

125

7.01%

34,540,596

8.93%

7.91%

8.19%

144

7.23%

39,004,404

8.88%

8.14%

8.42%

153

8.58%

41,863,953

10.82%

8.19%

8.47%

171

8.59%

48,966,569

11.14%

8.42%

8.75%

212

11.89%

58,183,283

15.04%

8.47%

8.75%

211

10.60%

56,785,593

12.92%

8.75%

9.25%

225

12.62%

53,766,226

13.90%

8.75%

9.25%

260

13.06%

63,609,880

14.48%

9.25%

9.75%

155

8.69%

26,541,181

6.86%

9.25%

9.75%

173

8.69%

31,934,033

7.27%

9.75%

10.25%

112

6.28%

14,983,421

3.87%

9.75%

10.25%

124

6.23%

17,457,069

3.97%

10.25%

10.75%

5.38%

9,272,316

2.40%

10.25%

10.75%

108

5.42%

10,993,427

2.50%

10.75%

11.25%

114

6.39%

9,629,128

2.49%

10.75%

11.25%

127

6.38%

11,076,271

2.52%

11.25%

13.58%

175

9.81%

12,740,309

3.29%

11.25%

13.58%

190

9.54%

13,672,314

3.11%

1,783

100.00%

386,889,572

100.00%

1,991

100.00%

439,401,071

100.00%

Distribution Date: 27-Nov-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

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:29

Page 32 of 48

1,304

342,638,248

88.56%

351.69

8.32%

1,476

391,925,608

89.20%

360.00

8.34%

399

25,719,290

6.65%

346.46

10.95%

431

27,922,666

6.35%

354.41

10.96%

18,532,035

4.79%

341.99

7.87%

19,552,796

4.45%

350.50

7.85%

1,783

386,889,572

100.00%

1,991

439,401,071

100.00%

1,480

318,290,479

82.27%

350.79

8.47%

1,647

359,548,381

81.83%

359.15

8.47%

199

50,926,802

13.16%

351.34

8.46%

232

60,051,082

13.67%

359.62

8.54%

104

17,672,291

4.57%

351.07

8.60%

112

19,801,608

4.51%

359.42

8.61%

1,783

386,889,572

100.00%

1,991

439,401,071

100.00%

Total

Distribution by Property Types (Cut-off)

Adjustable

Fixed 2nd Lien

Fixed 1st Lien

Product Type

Distribution by Property Types (Current)

Total

WAMM

WAC

Distribution by Product Characteristics (Cut-off)

Product Type

# of Loans

Original Principal

Balance

% of

Balance

Distribution by Product Characteristics (Current)

Mortgage Loan Characteristics Part II

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Distribution Date: 27-Nov-06

WAMM

WAC

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Property Type

# of

Loans

Ending Balance

% of

Balance

Property Type

# of Loans

Ending Balance

% of

Balance

WAMM

WAC

Adjustable

Fixed 2nd Lien

Fixed 1st Lien

Total

SF Unattached Dwelling

Multifamily

Condo - Low Facility

Total

SF Unattached Dwelling

Multifamily

Condo - Low Facility

06-Dec-2006 07:29

Page 33 of 48

Mortgage Loan Characteristics Part II

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Distribution Date: 27-Nov-06

1,660

362,880,073

93.79%

351.02

8.45%

1,850

411,477,580

93.65%

359.36

8.46%

110

19,974,145

5.16%

350.58

9.00%

127

23,562,717

5.36%

358.74

8.99%

4,035,354

1.04%

339.22

8.20%

4,360,774

0.99%

348.44

8.25%

1,783

386,889,572

100.00%

1,991

439,401,071

100.00%

855

212,175,402

54.84%

350.97

8.42%

978

246,692,730

56.14%

359.38

8.43%

909

171,439,558

44.31%

350.74

8.54%

992

189,026,443

43.02%

359.00

8.57%

3,274,612

0.85%

351.64

8.22%

3,681,897

0.84%

360.00

8.43%

1,783

386,889,572

100.00%

1,991

439,401,071

100.00%

Owner Occupied - Secondary Residence

Distribution by Occupancy Type (Current)

Occupancy Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Owner Occupied - Primary Residence

Non-Owner Occupied

Owner Occupied - Primary Residence

Non-Owner Occupied

Distribution by Occupancy Type (Cut-off)

Occupancy Type

# of Loans

Ending Balance

% of

Balance

WAMM

WAC

Owner Occupied - Secondary Residence

Total

Distribution by Loan Purpose (Current)

Total

WAMM

WAC

Refinance/Equity Takeout

Purchase

Loan Purpose

# of

Loans

Ending Balance

% of

Balance

Refinance/No Cash Out

Total

Distribution by Loan Purpose (Cut-off)

Loan Purpose

# of Loans

Ending Balance

% of

Balance

WAMM

WAC

Refinance/Equity Takeout

Purchase

Refinance/No Cash Out

Total

06-Dec-2006 07:29

Page 34 of 48

Mortgage Loan Characteristics Part II

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Distribution Date: 27-Nov-06

1,783

386,889,572

100.00%

350.88

8.47%

1,991

439,401,071

100.00%

359.22

8.49%

Ending Balance

% of

Balance

WAMM

WAC

Distribution by Originator Concentration > 10% (Current)

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

Originator

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Originator

# of Loans

Fremont

06-Dec-2006 07:29

Page 35 of 48

WAMM

WAC

California

327

99,152,584

25.63%

351

8.20%

New York

200

57,759,394

14.93%

351

8.42%

Florida

311

57,640,060

14.90%

350

8.54%

New Jersey

120

28,749,232

7.43%

350

8.76%

Maryland

122

25,882,756

6.69%

351

8.47%

Virginia

14,711,284

3.80%

352

8.47%

Illinois

13,497,336

3.49%

351

8.91%

Georgia

10,920,298

2.82%

350

8.55%

Connecticut

9,656,260

2.50%

352

8.47%

Arizona

6,447,532

1.67%

352

8.67%

Remaining

394

62,472,836

16.15%

351

8.63%

WAMM

WAC

California

358

108,615,148

24.72%

360

8.21%

New York

224

66,049,686

15.03%

359

8.47%

Florida

332

61,629,816

14.03%

358

8.53%

New Jersey

159

38,939,022

8.86%

359

8.74%

Maryland

146

32,281,743

7.35%

359

8.50%

Illinois

116

19,280,892

4.39%

359

8.90%

Virginia

15,136,982

3.44%

360

8.49%

Georgia

11,544,583

2.63%

358

8.60%

Connecticut

9,680,632

2.20%

360

8.47%

Arizona

7,989,820

1.82%

360

8.56%

Remaining

422

68,252,746

15.53%

359

8.62%

(1)

Based on Current Period Ending Principal Balance

Top 10 Original State Concentration

Geographic Distribution

# of

Loans

Balance

(1)

% of

Balance

Top 10 Current State Concentration

Geographic Distribution

# of

Loans

Balance

(1)

% of

Balance

Distribution Date: 27-Nov-06

Geographic Concentration

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Top 10 Current State Concentration

California

New Jersey

Florida

New York

Arizona

Connecticut

Georgia

Illinois

Virginia

Maryland

Remaining

06-Dec-2006 07:29

Page 36 of 48

6000210820

200611

27,490.43

(1,733.90)

27,490.43

29,224.33

Current Total

27,490.43

(1,733.90)

27,490.43

29,224.33

Cumulative

27,490.43

(1,733.90)

27,490.43

29,224.33

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

0.00

29,224.33

1,733.90

Distribution Date: 27-Nov-06

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

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

06-Dec-2006 07:29

Page 37 of 48

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

27-Nov-06

27,490.43

(1,733.90)

29,224.33

0.00

29,224.33

25-Oct-06

0.00

25-Sep-06

0.00

25-Aug-06

0.00

25-Jul-06

0.00

Total

27,490.43

(1,733.90)

29,224.33

0.00

29,224.33

Historical Realized Loss Summary

Recovery on Prior

Liquidations

Claims on Prior Liquidations

(Claims)/Recoveries on

Prior Payoffs

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

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

Total (All Loans)

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Distribution Date: 27-Nov-06

06-Dec-2006 07:29

Page 38 of 48

Historical Realized Loss Summary

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Distribution Date: 27-Nov-06

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

27-Nov-06

27,490.43

(1,733.90)

29,224.33

0.00

29,224.33

25-Oct-06

0.00

25-Sep-06

0.00

25-Aug-06

0.00

25-Jul-06

0.00

Total

27,490.43

(1,733.90)

29,224.33

0.00

29,224.33

Group I

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

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

Claims on Prior Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

06-Dec-2006 07:29

Page 39 of 48

Historical Realized Loss Summary

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Distribution Date: 27-Nov-06

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

27-Nov-06

0.00

25-Oct-06

0.00

25-Sep-06

0.00

25-Aug-06

0.00

25-Jul-06

0.00

Total

0.00

Claims on Prior Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

Group II

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

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

06-Dec-2006 07:29

Page 40 of 48

MDR (monthly Default Rate)

Total

Current Period

0.01%

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

0.08%

3-Month Average

0.03%

6-Month Average

0.01%

12-Month Average

0.01%

Average Since Cut-Off

0.02%

SDA (Standard Default Assumption)

Total

Current Period

2.77%

3-Month Average

0.92%

6-Month Average

0.46%

12-Month Average

0.23%

Average Since Cut-Off

0.55%

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: 27-Nov-06

Realized Loss Summary

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

0.00%

0.86%

1.71%

2.57%

3.43%

4.29%

5.14%

6.00%

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

0.00%

7.14%

14.29%

21.43%

28.57%

35.71%

42.86%

50.00%

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

286%

571%

857%

1143%

1429%

1714%

2000%

Dec-05

Jan-06

Feb-06

Mar-06

Apr-06

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

06-Dec-2006 07:29

Page 41 of 48

5000203207

172,397.63

90.15

0.00

172,307.48

9.35%

1,433.41

1,343.26

861.98

481.28

5000203270

42,985.72

44.71

0.00

42,941.01

10.58%

423.52

378.81

214.93

163.88

Total

215,383.35

134.86

0.00

215,248.49

1,856.93

1,722.08

1,076.92

645.16

Disclosure Control #

Scheduled

Principal

Beginning

Balance

Unscheduled

Principal

Interest Received

Relief Act Interest

Shortfall

Ending balance

Loan Rate

P&I Amount

Scheduled Interest

Servicemembers Civil Relief Act

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Distribution Date: 27-Nov-06

06-Dec-2006 07:29

Page 42 of 48

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: 27-Nov-06

Material Breaches Detail

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:29

Page 43 of 48

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: 27-Nov-06

Modified Loan Detail

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

06-Dec-2006 07:29

Page 44 of 48

Beginning Principal Balance

Description

Disclosure Control

Collateral Asset Changes

Revised Date: 06-Dec-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Distribution Date: 27-Nov-06

06-Dec-2006 07:29

Page 45 of 48

1000306167

27-Oct-06

Browns Summit

SF Unattached Dwelling

110,589.89

110,062.72

0.00

Total

110,589.89

110,062.72

0.00

Revised Date: 06-Dec-06

Distribution Date: 27-Nov-06

Realized Loss

Appraisal

Reduction

Amount

Date

Liquidated

Liquidation

Proceeds

Liquidation

Expenses

Historical Collateral Level REO Report

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Total (All Loans)

Appraisal

Date

Disclosure

Control #

REO Date

Recent

Appraisal Value

Scheduled

Balance

City

State

Property Type

Actual Balance

06-Dec-2006 07:29

Page 46 of 48

Revised Date: 06-Dec-06

Distribution Date: 27-Nov-06

Historical Collateral Level REO Report

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

1000306167

27-Oct-06

Browns Summit

SF Unattached Dwelling

110,589.89

110,062.72

0.00

Total

110,589.89

110,062.72

0.00

Realized Loss

Appraisal

Reduction

Amount

Date

Liquidated

Liquidation

Proceeds

Liquidation

Expenses

Group I

Disclosure

Control #

REO Date

City

State

Property Type

Actual Balance

Scheduled

Balance

Recent

Appraisal Value

Appraisal

Date

06-Dec-2006 07:29

Page 47 of 48

Revised Date: 06-Dec-06

Distribution Date: 27-Nov-06

Historical Collateral Level REO Report

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006-FM1

Total

0.00

Liquidation

Proceeds

Liquidation

Expenses

Realized Loss

Recent

Appraisal Value

Appraisal

Date

Appraisal

Reduction

Amount

Date

Liquidated

Group II

Disclosure

Control #

REO Date

City

State

Property Type

Actual Balance

Scheduled

Balance

06-Dec-2006 07:29

Page 48 of 48

MERRILL LYNCH MORTGAGE INVESTORS TRUST, MORTGAGE LOAN ASSET-BACKED CERTIFICATES, SERIES 2006-FM1 10-D