Content:

Pages

Contact Information:

11/27/2006

Statement to Certificate Holders

Analyst:

Vamsi Kaipa

714.259.6252

Statement to Certificate Holders (Factors)

vamsi.kaipa@abnamro.com

Pool/Non-Pool Funds Cash Reconciliation

10/25/2006

Administrator:

Kim Sturm

312.904.4373

Pool Detail and Performance Indicators

kimberly.sturm@abnamro.com

Bond Interest Reconciliation Part I

LaSalle Website:

www.etrustee.net

Bond Interest Reconciliation Part II

12/26/2006

Bond Principal Reconciliation

Rating Information

Outside Parties To The Transaction

15 Month Loan Status Summary Part I

10/31/2006

15 Month Loan Status Summary Part II

15 Month Historical Payoff Summary

Prepayment Summary

Mortgage Loan Characteristics Part I

Mortgage Loan Characteristics Part II

15-17

Geographic Concentration

Current Period Realized Loss Detail

5/31/2006

Historical Realized Loss Summary

Realized Loss Summary

Material Breaches Detail

6/26/2006

Modified Loan Detail

Historical Collateral Level REO Report

2/25/2031

11/15/2006

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

ABN AMRO Acct : 723718.1

Payment Date:

27-Nov-06

Prior Payment:

25-Oct-06

Next Payment:

26-Dec-06

Record Date:

31-Oct-06

Distribution Count:

Issuer: Deutsche Bank Securities Inc.

Depositor: ACE Securities Corp

Closing Date:

31-May-06

Underwriter: Deutsche Bank Securities Inc.

First Pay. Date:

Master Servicer: ABN AMRO LaSalle Bank N.A.

26-Jun-06

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

Rated Final

Payment Date:

25-Feb-31

Delinq Method:

OTS

Determination Date:

15-Nov-06

24-Nov-2006 12:20

004406AA2

352,607,000.00

301,486,413.31

11,913,317.01

0.00

289,573,096.30

1,506,175.87

0.00

5.4500000000%

111363792

316.00

734,573.76

0.00

1,902,264.24

0.00

N/A

111363818

0.00

N/A

111363800

0.00

N/A

Total

352,607,316.00

302,220,987.07

11,913,317.01

0.00

291,475,360.54

1,506,175.87

0.00

Total P&I Payment

13,419,492.88

Distribution Date: 27-Nov-06

Pass-Through

Rate

Deferred Interest

Ending Certificate

Balance

Interest Payment

(2)

Bond Payments

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

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

Interest

Adjustment

24-Nov-2006 12:20

Page 2 of 24

004406AA2

352,607,000.00

855.021066825

33.786388274

0.000000000

821.234678551

4.271542737

0.000000000

5.45000000%

111363792

316.00

2324600.506329110

0.000000000

6019823.544303800

0.000000000

N/A

111363818

0.00

0.000000000

N/A

111363800

0.00

0.000000000

N/A

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

ACE Securities Corp.

Next Rate **

Deferred Interest *

Ending Certificate

Balance *

Interest Payment *

Interest Adjustment*

Statement to Certificate Holders (FACTORS)

Distribution Date: 27-Nov-06

Series 2006-GP1

Home Equity Loan Trust,

Bond Payments

Current Realized

Loss *

Original Face

Value

Class

CUSIP

Beginning Certificate

Balance *

Principal Payment

24-Nov-2006 12:20

Page 3 of 24

Interest Summary

Principal Summary

Net WAC Rate Carryover Reserve Account

Interest Summary

Principal Summary

Beginning Balance

1,000.00

Scheduled Interest

2,777,207.10

Scheduled Prin Distribution

0.00

Withdrawal from Trust

0.00

Fees

182,590.75

Curtailments

(1,242,912.42)

Reimbursement from Waterfall

0.00

Remittance Interest

2,594,616.35

Prepayments in Full

11,988,538.95

Ending Balance

1,000.00

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

0.00

Prepayment Penalties

79,250.00

Repurchase Proceeds

0.00

Additional Balances

Other Interest Loss

0.00

Other Principal Proceeds

0.00

Other Interest Proceeds

0.00

Remittance Principal

10,745,626.53

Current Additional Balances

2,621,887.58

Non-advancing Interest

0.00

Additional Balance Advance Amount

0.00

Net PPIS/Relief Act Shortfall

0.00

Cumulative Additional Balances Advance

19,013,129.68

Modification Shortfall

0.00

Cumulative Additional Balance Advance

Other Interest Proceeds/Shortfalls

79,250.00

Amounts paid by Greenpoint or an

Interest Adjusted

2,673,866.35

affiliate from the Cut-off Date through

Fee Summary

the end of the related Collection Period

Total Servicing Fees

142,638.29

Draw Rate

0.8700%

Extraordinary Trust Fund Expense

0.00

Total Trustee Fees

0.00

LPMI Fees

0.00

Credit Manager's Fees

2,266.66

Misc. Fees / Trust Expense

0.00

Insurance Premium

37,685.80

Total Fees

182,590.75

Advances (Principal & Interest)

Prior Month's Outstanding Advances

N/A

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

N/A

P&I Due Certificate Holders

13,419,492.88

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

Cash Reconciliation Summary

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.

24-Nov-2006 12:20

Page 4 of 24

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

352,607,315.93

6,277

3 mo. Rolling Average

1,999,782

301,729,740

0.67%

WAC - Remit Current

N/A

9.02%

Cum Scheduled Principal

0.00

6 mo. Rolling Average

1,727,548

317,436,727

0.55%

WAC - Remit Original

N/A

8.25%

Cum Unscheduled Principal

61,132,271.39

12 mo. Rolling Average

1,727,548

317,436,727

0.55%

WAC - Current

N/A

11.03%

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAC - Original

N/A

8.80%

Cum Repurchases

0.00

3 mo. Cum Loss

0.00

WAL - Current

N/A

6 mo. Cum loss

0.00

WAL - Original

N/A

194.66

Current

Amount

Count

12 mo. Cum Loss

0.00

Beginning Pool

302,220,671.07

5,269

85.71%

Current Index Rate

Scheduled Principal

0.00

0.00%

Triggers

Next Index Rate

Unscheduled Principal

10,745,626.53

170

3.05%

Liquidations

0.00

0.00%

> Delinquency Trigger Event

(2)

OC Deficiency Amount

Repurchases

0.00

0.00%

Delinquency Event Calc

(1)

2,556,118.06

291,475,045

0.88%

Cum OC Deficiency Amount

Ending Pool

291,475,044.54

5,099

82.66%

OC Reduction Amount

> Loss Trigger Event?

(3)

Average Loan Balance

57,163.18

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

Credit Enhancement %

(4)

0.25%

Cut-off LTV

87.14%

Step Down %

(5)

5.10%

Cash Out/Refinance

56.96%

Credit Enhancement

Amount

% of Credit Enhancement %

(6)

4.00%

SFR

61.92%

Original OC

315.93

0.00%

> Step Down Date?

Target OC

8,991,486.56

N/A

Min

Max

Beginning OC

734,257.76

> Rapid Amortization Event

0.00%

FICO

606

817

713.55

Required OC Amount

8,991,486.56

0.21%

Ending OC

1,901,948.24

Mezz Certificates

N/A

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

Pool Detail and Performance Indicators Total(All Loans)

Misc/Additional Information

Pool Level Information

5.320000%
5.320000%

1,167,690.48
1,901,948.24

N/A

Balance

307,255,109.85
200,861,947.88
218,346,343.00

Legend: (1) 60 Days+, REO, BK, F/C % (3) Condn: Cum Loss > specified thresholds (5) Defined Benchmark (7) Condn: Distn Cnt > 36, (4) > (5)
(2) (1) > (6) * (4), then TRUE (4) Mezzanine 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.

Owner Occupied

291,609,534.59

82.70%

24-Nov-2006 12:20

Page 5 of 24

Act/360

301,486,413.31

5.450000000%

1,506,175.87

0.00

1,506,175.87

0.00

734,573.76

N/A

0.00

N/A

Act/360

0.00

0.000000000%

0.00

N/A

0.00

N/A

0.00

N/A

Total

302,220,987.07

1,506,175.87

0.00

1,506,175.87

0.00

(1)

Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

Interest Payment

Amount

Remaining Int

Carry-Forward

Shortfall

Current Period

(Shortfall) /

Recovery

Net Cap

Rate in

Effect Y/N

Total Interest

Deductions

Method

Days

Net WAC Rate

Carryover

Amount

Outstanding Relief

Act / Prepayment

Interest Shortfalls

Class

Accrual

Certificate

Interest

Distribution Date: 27-Nov-06

Pass-Thru Rate

Total Interest

Additions

Distributable

Certificate

Interest

Bond Interest Reconciliation - Part I

Opening Balance

- - Accrual - -

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

- - - - - - - - Outstanding - - - - - - - -

24-Nov-2006 12:20

Page 6 of 24

24-Nov-06

25-Oct-06

27-Nov-06

0.00

31-Oct-06

1-Oct-06

1-Nov-06

0.00

31-Oct-06

25-Oct-06

27-Nov-06

0.00

31-Oct-06

1-Oct-06

1-Nov-06

0.00

Total

0.00

ACE Securities Corp.

Current Int Carry-

Fwd Shortfall

(2)

Net WAC Rate

Carryover Amount

(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.

(3)

Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

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

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

Bond Interest Reconciliation - Part II

Other Interest

Losses

Prepayment

Premiums

Record Date

Class

Interest Rate

SWAP Agreement

Deposits from YM

Agreement

Prior Int Carry-Fwd

Shortfall

Distribution Date: 27-Nov-06

Home Equity Loan Trust,

Series 2006-GP1

Prior Interest Due

Date

Current Interest

Due Date

Prior Shortfall

Reimbursement

Other Interest

Proceeds

(1)

24-Nov-2006 12:20

Page 7 of 24

352,607,000.00

301,486,413.31

0.00

10,745,626.53

1,167,690.48

0.00

289,573,096.30

25-Feb-31

N/A

316.00

734,573.76

0.00

1,902,264.24

25-Feb-31

N/A

0.00

25-Feb-31

N/A

0.00

25-Feb-31

N/A

Total

352,607,316.00

302,220,987.07

0.00

10,745,626.53

1,167,690.48

0.00

291,475,360.54

Ending

Class Balance

Rated

Final

Maturity

- Credit Support -

Class

Original Class

Balance

Beginning Class

Balance

Current

Losses

Distribution Date: 27-Nov-06

Bond Principal Reconciliation

Unscheduled

Principal
Payment

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Current

Original

Interest on

Losses

Scheduled Principal

Payment

Cumulative

Losses

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

Extra

Principal
Payment

Prior
Loss

Reimburs.

24-Nov-2006 12:20

Page 8 of 24

Class

CUSIP

Fitch

Moody's

DBRS

S&P

111363818

004406AA2

Aaa

AAA

111363792

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

Ratings Information

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

24-Nov-2006 12:20

Page 9 of 24

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

27-Nov-06

5,030

286,553,143

2,365,783

1,108,101

1,169,068

278,950

25-Oct-06

5,154

298,321,664

2,077,214

992,973

609,094

219,726

25-Sep-06

5,286

308,309,762

1,562,308

804,102

528,136

289,197

25-Aug-06

5,446

318,780,092

1,653,988

1,106,234

910,031

391,782

25-Jul-06

5,937

330,578,512

1,731,971

422,938

634,193

102,586

26-Jun-06

6,095

341,324,639

995,999

798,177

27-Nov-06

98.65%

98.31%

0.65%

0.81%

0.27%

0.38%

0.33%

0.40%

0.10%

0.00%

25-Oct-06

99.04%

98.71%

0.54%

0.69%

0.21%

0.33%

0.17%

0.20%

0.04%

0.07%

0.00%

25-Sep-06

99.21%

98.98%

0.38%

0.50%

0.24%

0.26%

0.13%

0.17%

0.04%

0.09%

0.00%

25-Aug-06

98.96%

98.74%

0.42%

0.51%

0.25%

0.34%

0.29%

0.28%

0.07%

0.12%

0.00%

25-Jul-06

99.30%

99.13%

0.37%

0.52%

0.13%

0.17%

0.19%

0.03%

0.00%

26-Jun-06

99.49%

99.48%

0.29%

0.21%

0.23%

0.00%

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

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

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Total(All Loans)

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

24-Nov-2006 12:20

Page 10 of 24

Balance

27-Nov-06

59,224

19,729

199,997

25-Oct-06

19,729

199,997

25-Sep-06

289,197

25-Aug-06

334,783

57,000

25-Jul-06

45,586

57,000

26-Jun-06

27-Nov-06

0.00%

0.06%

0.02%

0.01%

0.02%

0.07%

25-Oct-06

0.00%

0.02%

0.01%

0.00%

0.02%

0.07%

25-Sep-06

0.00%

0.04%

0.09%

0.00%

25-Aug-06

0.00%

0.05%

0.10%

0.00%

0.02%

25-Jul-06

0.00%

0.02%

0.01%

0.00%

0.02%

26-Jun-06

0.00%

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

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

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

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

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

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

61-90 Days

90 + Days

Total(All Loans)

61-90 Days

90 + Days

Current

31-60 Days

24-Nov-2006 12:20

Page 11 of 24

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

27-Nov-06

5,099

291,475,045

170

11,988,539

0.00

11.03%

10.46%

25-Oct-06

5,204

302,220,671

141

10,899,008

0.00

8.62%

8.18%

25-Sep-06

5,328

311,493,505

194

13,247,694

0.00

10.58%

10.05%

25-Aug-06

5,503

322,842,127

177

12,699,859

0.00

10.81%

10.25%

25-Jul-06

5,979

333,470,200

160

11,044,059

0.00

8.85%

8.39%

26-Jun-06

6,126

343,118,815

151

11,482,675

0.00

195

9.30%

8.80%

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

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

Curr Weighted Avg.

Total(All Loans)

Distribution

Date

Ending Pool

Payoffs

Realized Losses

24-Nov-2006 12:20

Page 12 of 24

SMM (Single Monthly Mortality)

Total

Current Period

3.97%

3-Month Average

3.86%

6-Month Average

3.67%

12-Month Average

3.67%

Average Since Cut-Off

3.67%

CPR (Conditional Prepayment Rate)

Total

Current Period

38.47%

3-Month Average

37.59%

6-Month Average

36.12%

12-Month Average

36.12%

Average Since Cut-Off

36.12%

PSA (Public Securities Association)

Total

Current Period

641%

3-Month Average

627%

6-Month Average

602%

12-Month Average

602%

Average Since Cut-Off

602%

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)

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

Prepayment Summary

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

24-Nov-2006 12:20

Page 13 of 24

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

18,000

490

10.15%

5,789,479

1.99%

9,000

624

9.94%

360,288

0.10%

18,000

24,000

369

7.64%

7,814,972

2.68%

9,000

16,000

377

6.01%

4,761,586

1.35%

24,000

30,000

471

9.76%

12,742,891

4.37%

16,000

23,000

464

7.39%

9,220,178

2.61%

30,000

36,000

394

8.16%

12,996,380

4.46%

23,000

30,000

610

9.72%

16,248,193

4.61%

36,000

42,000

378

7.83%

14,793,360

5.08%

30,000

37,000

527

8.40%

17,627,351

5.00%

42,000

48,000

320

6.63%

14,454,884

4.96%

37,000

45,000

589

9.38%

24,192,130

6.86%

48,000

62,000

727

15.06%

39,653,902

13.60%

45,000

59,000

858

13.67%

44,490,552

12.62%

62,000

76,000

481

9.96%

33,139,135

11.37%

59,000

73,000

622

9.91%

40,730,201

11.55%

76,000

90,000

278

5.76%

23,073,962

7.92%

73,000

87,000

407

6.48%

32,321,128

9.17%

90,000

104,000

299

6.19%

29,089,496

9.98%

87,000

101,000

389

6.20%

36,990,224

10.49%

104,000

120,000

148

3.07%

16,612,197

5.70%

101,000

117,000

185

2.95%

20,191,609

5.73%

120,000

500,000

473

9.80%

81,314,436

27.90%

117,000

500,000

625

9.96%

105,473,875

29.91%

4,828

100.00%

291,475,095

100.00%

6,277

100.00%

352,607,316

100.00%

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

6.00%

8.25%

658

13.63%

51,586,525

17.70%

3.00%

5.00%

1,475

23.50%

112,475,249

31.90%

8.25%

8.59%

346

7.17%

19,269,403

6.61%

5.00%

5.69%

0.00%

8.59%

8.94%

343

7.10%

30,554,608

10.48%

5.69%

6.38%

0.16%

727,541

0.21%

8.94%

9.28%

503

10.42%

35,213,155

12.08%

6.38%

7.06%

139

2.21%

9,330,295

2.65%

9.28%

9.63%

289

5.99%

17,016,707

5.84%

7.06%

7.75%

926

14.75%

52,366,128

14.85%

9.63%

10.00%

627

12.99%

36,284,496

12.45%

7.75%

8.50%

710

11.31%

41,633,304

11.81%

10.00%

10.19%

0.60%

1,825,395

0.63%

8.50%

8.84%

257

4.09%

12,545,729

3.56%

10.19%

10.38%

479

9.92%

22,769,260

7.81%

8.84%

9.19%

220

3.50%

9,978,882

2.83%

10.38%

10.56%

264

5.47%

20,617,839

7.07%

9.19%

9.53%

820

13.06%

34,378,969

9.75%

10.56%

10.75%

330

6.84%

18,916,383

6.49%

9.53%

9.88%

396

6.31%

26,958,261

7.65%

10.75%

11.00%

486

10.07%

18,444,136

6.33%

9.88%

10.25%

798

12.71%

33,554,168

9.52%

11.00%

13.00%

474

9.82%

18,977,188

6.51%

10.25%

12.25%

526

8.38%

18,658,790

5.29%

4,828

100.00%

291,475,095

100.00%

6,277

100.00%

352,607,316

100.00%

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

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

24-Nov-2006 12:20

Page 14 of 24

4,828

291,475,095

100.00%

0.00

9.56%

6,277

352,607,316

100.00%

200.74

7.57%

4,828

291,475,095

100.00%

6,277

352,607,316

100.00%

2,779

180,108,646

61.79%

0.00

9.40%

3,677

218,346,343

61.92%

205.14

7.23%

965

57,389,793

19.69%

0.00

9.47%

1,250

70,218,076

19.91%

197.15

7.69%

676

31,688,838

10.87%

0.00

9.85%

847

37,543,899

10.65%

193.50

8.22%

408

22,287,818

7.65%

0.00

10.58%

503

26,498,997

7.52%

184.22

9.17%

4,828

291,475,095

100.00%

6,277

352,607,316

100.00%

SF Unattached Dwelling

PUD

Condo - Low Facility

Multifamily

Total

SF Unattached Dwelling

PUD

Condo - Low Facility

Multifamily

Total

WAMM

WAC

Adjustable

WAC

Property Type

# of

Loans

Ending Balance

% of

Balance

# of

Loans

Ending Balance

% of

Balance

WAMM

Distribution by Product Characteristics (Current)

Mortgage Loan Characteristics Part II

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-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

Adjustable

Total

Distribution by Property Types (Cut-off)

WAMM

WAC

Property Type

# of Loans

Ending Balance

% of

Balance

24-Nov-2006 12:20

Page 15 of 24

Mortgage Loan Characteristics Part II

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

3,297

232,372,284

79.72%

0.00

9.35%

4,410

285,106,407

80.86%

205.63

7.15%

1,395

53,262,896

18.27%

0.00

10.40%

1,703

60,997,781

17.30%

180.10

9.38%

136

5,839,915

2.00%

0.00

10.29%

164

6,503,128

1.84%

180.00

9.17%

4,828

291,475,095

100.00%

6,277

352,607,316

100.00%

2,230

153,674,768

52.72%

0.00

9.29%

3,028

188,029,010

53.33%

214.93

6.57%

2,378

126,993,175

43.57%

0.00

9.91%

2,979

151,745,368

43.04%

184.24

8.79%

220

10,807,152

3.71%

0.00

9.23%

270

12,832,938

3.64%

187.88

7.87%

4,828

291,475,095

100.00%

6,277

352,607,316

100.00%

Total

Refinance/Equity Takeout

Purchase

Refinance/No Cash Out

Total

Distribution by Loan Purpose (Cut-off)

Loan Purpose

# of Loans

Ending Balance

% of

Balance

WAMM

WAC

Refinance/No Cash Out

WAMM

WAC

Refinance/Equity Takeout

Purchase

Loan Purpose

# of

Loans

Ending 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 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 Balance

% of

Balance

WAMM

WAC

24-Nov-2006 12:20

Page 16 of 24

Mortgage Loan Characteristics Part II

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

4,828

291,475,095

100.00%

0.00

9.56%

6,277

352,607,316

100.00%

200.74

7.57%

Greenpoint Mortgage

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

Ending Balance

% of

Balance

WAMM

WAC

24-Nov-2006 12:20

Page 17 of 24

WAMM

WAC

California

2,125

164,364,618

56.39%

9.40%

New York

266

19,251,172

6.60%

9.51%

Florida

341

14,247,981

4.89%

9.77%

Virginia

200

11,462,988

3.93%

9.36%

Arizona

249

10,647,831

3.65%

9.87%

Washington

188

9,062,014

3.11%

9.84%

Nevada

178

7,997,730

2.74%

9.71%

Maryland

138

7,821,274

2.68%

9.73%

Colorado

128

5,788,898

1.99%

9.79%

Illinois

119

5,375,130

1.84%

9.82%

Remaining

896

35,455,460

12.16%

9.93%

WAMM

WAC

California

2,875

201,101,375

57.03%

203

7.09%

New York

324

21,527,262

6.11%

208

8.08%

Florida

423

16,059,049

4.55%

198

8.04%

Virginia

238

13,392,524

3.80%

195

8.13%

Arizona

317

13,385,544

3.80%

203

7.94%

Washington

256

11,529,225

3.27%

196

7.76%

Maryland

181

10,020,925

2.84%

197

8.45%

Nevada

219

9,408,685

2.67%

196

8.12%

Illinois

160

7,141,545

2.03%

190

8.35%

Colorado

161

6,999,818

1.99%

190

8.44%

Remaining

1,123

42,041,364

11.92%

194

8.48%

(1)

Based on Current Period Ending Principal Balance

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

Geographic Concentration

Top 10 Current State Concentration

Geographic Distribution

# of

Loans

Balance

(1)

% of

Balance

Top 10 Original State Concentration

Geographic Distribution

# of

Loans

Balance

(1)

% of

Balance

Top 10 Current State Concentration

California

Virginia

Florida

New York

Illinois

Colorado

Maryland

Nevada

Washington

Arizona

Remaining

24-Nov-2006 12:20

Page 18 of 24

C
M
N
O
P

REO
Short Pay
Third Party
Write-off

R
S
T
W

1
2
3
4
5

6
7
8
9

Loss-Loan

Adjusted

Net Liquidation

Proceeds

Disclosure Control #

Period

Loss to Trust

Loss-Loan Non-

adjusted

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

Third Party
Charged Off/Matured
Side Note
Manual

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

Current Period Realized Loss Detail

Loss-Certs Non-

adjusted

Subsequent

Recov/(Exp)

Original Liquidation

Balance

Adj Type

Liq Type

Loss-Certs

Adjusted

Distribution Date: 27-Nov-06

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

24-Nov-2006 12:20

Page 19 of 24

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

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

26-Jun-06

0.00

Total

0.00

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

Total(All Loans)

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

Historical Realized Loss Summary

Recovery on Prior

Liquidations

Claims on Prior Liquidations

(Claims)/Recoveries on

Prior Payoffs

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

24-Nov-2006 12:20

Page 20 of 24

MDR (monthly Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

CDR (Conditional Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

SDA (Standard Default Assumption)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

MDR

Monthly Default Rate

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

CDR

Conditional Default Rate

1 - (1 - MDR)^

SDA

Standard Default Assumption

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

WAS

Weighted Average Seasoning

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

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

Realized Loss Summary

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

24-Nov-2006 12:20

Page 21 of 24

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

Material Breaches Detail

Disclosure Control

Loan Group #

Ending Principal

Balance

Material Breach

Date

Material Breach Description

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

24-Nov-2006 12:20

Page 22 of 24

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

Modified Loan Detail

Disclosure Control

Loan Group #

Modified Maturity

Date

Cutoff Maturity

Date

Modification Description

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

24-Nov-2006 12:20

Page 23 of 24

Total

0.00

Appraisal

Date

Disclosure

Control #

REO Date

Recent

Appraisal Value

Scheduled

Balance

City

State

Property Type

Actual Balance

ACE Securities Corp.

Home Equity Loan Trust,

Series 2006-GP1

Distribution Date: 27-Nov-06

Realized Loss

Appraisal

Reduction

Amount

Date

Liquidated

Liquidation

Proceeds

Liquidation

Expenses

Historical Collateral Level REO Report

24-Nov-2006 12:20

Page 24 of 24

ACE Securities Corp. Home Equity Loan Trust, Series 2006-GP1 10-D