Content:

Pages

Contact Information:

11/27/2006

Statement to Certificate Holders

Analyst:

Isil Rahmanian

714.259.6825

Statement to Certificate Holders (Factors)

isil.rahmanian@abnamro.com

Pool/Non-Pool Funds Cash Reconciliation

10/25/2006

Administrator:

Megan Novak

312.904.6709

Cash Reconciliation Summary

5-6

megan.novak@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

14-16

15 Month Loan Status Summary Part II

17-19

15 Month Historical Payoff Summary

20-21

Prepayment Summary

Mortgage Loan Characteristics Part I

Mortgage Loan Characteristics Part II

24-26

Geographic Concentration

8/8/2006

Current Period Realized Loss Detail

Historical Realized Loss Summary

29-31

Realized Loss Summary

8/25/2006

Material Breaches Detail

Modified Loan Detail

Historical Collateral Level REO Report

5/25/2037

11/15/2006

Delinq Method:

OTS

Determination Date:

15-Nov-06

First Pay. Date:

Master Servicer: ABN AMRO LaSalle Bank N.A.

25-Aug-06

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

Rated Final

Payment Date:

25-May-37

Depositor: Merrill Lynch Mortgage Investors, Inc.

Closing Date:

8-Aug-06

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

Record Date:

31-Oct-06

Distribution Count:

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

Prior Payment:

25-Oct-06

Next Payment:

26-Dec-06

ABN AMRO Acct : 723988.1

Payment Date:

27-Nov-06

Distribution Date: 27-Nov-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

59021BAA4

174,177,000.00

152,053,399.50

7,031,706.61

0.00

145,021,692.89

762,421.09

0.00

5.4700000000%

M-1

59021BAB2

12,610,000.00

0.00

12,610,000.00

65,309.29

0.00

5.6500000000%

M-2

59021BAC0

12,360,000.00

0.00

12,360,000.00

64,127.80

0.00

5.6600000000%

M-3

59021BAD8

4,994,000.00

0.00

4,994,000.00

26,093.65

0.00

5.7000000000%

M-4

59021BAE6

5,993,000.00

0.00

5,993,000.00

31,807.85

0.00

5.7900000000%

M-5

59021BAF3

5,244,000.00

0.00

5,244,000.00

28,120.95

0.00

5.8500000000%

M-6

59021BAG1

4,869,000.00

0.00

4,869,000.00

26,511.71

0.00

5.9400000000%

M-7

59021BAH9

4,994,000.00

0.00

4,994,000.00

30,076.37

0.00

6.5700000000%

M-8

59021BAJ5

4,370,000.00

0.00

4,370,000.00

27,319.78

0.00

6.8200000000%

M-9

59021BAK2

3,620,000.00

0.00

3,620,000.00

25,949.37

0.00

7.8200000000%

B-1

59021BAL0

3,620,000.00

0.00

3,620,000.00

29,267.70

0.00

8.8200000000%

B-2

59021BAM8

3,620,000.00

0.00

3,620,000.00

29,267.70

0.00

8.8200000000%

59021BAN6

0.00

N/A

59021BAQ9

249,716,798.49 N

230,612,521.56

0.00

224,271,481.77

0.00

N/A

59021BAP1

0.00

57,882.22

N/A

59021BAR7

100.00

0.00

N/A

Total

240,471,100.00

218,347,399.50

7,031,706.61

0.00

211,315,692.89

1,204,155.48

57,882.22

Total P&I Payment

8,235,862.09

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

Bond Payments

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

Distribution Date: 27-Nov-06

Pass-Through

Rate

Deferred Interest

Ending Certificate

Balance

Interest Payment

(2)

27-Nov-2006 08:31

Page 2 of 35

59021BAA4

174,177,000.00

872.982078575

40.371039862

0.000000000

832.611038713

4.377277654

0.000000000

5.47000000%

M-1

59021BAB2

12,610,000.00

1000.000000000

0.000000000

1000.000000000

5.179166534

0.000000000

5.65000000%

M-2

59021BAC0

12,360,000.00

1000.000000000

0.000000000

1000.000000000

5.188333333

0.000000000

5.66000000%

M-3

59021BAD8

4,994,000.00

1000.000000000

0.000000000

1000.000000000

5.225000000

0.000000000

5.70000000%

M-4

59021BAE6

5,993,000.00

1000.000000000

0.000000000

1000.000000000

5.307500417

0.000000000

5.79000000%

M-5

59021BAF3

5,244,000.00

1000.000000000

0.000000000

1000.000000000

5.362500000

0.000000000

5.85000000%

M-6

59021BAG1

4,869,000.00

1000.000000000

0.000000000

1000.000000000

5.445001027

0.000000000

5.94000000%

M-7

59021BAH9

4,994,000.00

1000.000000000

0.000000000

1000.000000000

6.022501001

0.000000000

6.57000000%

M-8

59021BAJ5

4,370,000.00

1000.000000000

0.000000000

1000.000000000

6.251665904

0.000000000

6.82000000%

M-9

59021BAK2

3,620,000.00

1000.000000000

0.000000000

1000.000000000

7.168334254

0.000000000

7.82000000%

B-1

59021BAL0

3,620,000.00

1000.000000000

0.000000000

1000.000000000

8.085000000

0.000000000

8.82000000%

B-2

59021BAM8

3,620,000.00

1000.000000000

0.000000000

1000.000000000

8.085000000

0.000000000

8.82000000%

59021BAN6

0.00

0.000000000

N/A

59021BAQ9

249,716,798.49 N

923.496228345

0.000000000

898.103303927

0.000000000

N/A

59021BAP1

0.00

0.000000000

N/A

59021BAR7

100.00

0.000000000

N/A

Bond Payments

Current Realized

Loss *

Original Face

Value

Class

CUSIP

Beginning Certificate

Balance *

Principal Payment

Series 2006- SL2

Mortgage Loan Asset-Backed Certificates

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

Merrill Lynch Mortgage Investors Trust

Next Rate **

Deferred Interest *

Ending Certificate

Balance *

Interest Payment *

Interest Adjustment*

Statement to Certificate Holders (FACTORS)

Distribution Date: 27-Nov-06

27-Nov-2006 08:31

Page 3 of 35

Interest Summary

Principal Summary

Swap Agreement

Interest Summary

Principal Summary

Net Swap payment payable to the Swap

Scheduled Interest

1,985,788.74

Scheduled Prin Distribution

234,709.42

Administrator

0.00

Fees

95,920.89

Curtailments

(148,017.96)

Net Swap payment payable to the Swap Provider

0.00

Remittance Interest

1,889,867.85

Prepayments in Full

6,201,635.43

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

21.87

Swap Termination payment payable to the Swap

Prepayment Penalties

57,882.22

Repurchase Proceeds

0.00

Administrator

0.00

Other Interest Loss

0.00

Other Principal Proceeds

(236.75)

Swap Termination payment payable to the Swap

0.00

Other Interest Proceeds

0.00

Remittance Principal

6,288,112.01

Provider

Non-advancing Interest

0.00

Non-Supported Interest Shortfall

0.00

Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

57,882.22

Interest Adjusted

1,947,750.07

Fee Summary

Total Servicing Fees

95,920.89

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

0.00

Insurance Premium

0.00

Total Fees

95,920.89

Advances (Principal & Interest)

Prior Month's Outstanding Advances

1,460,934.43

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

1,467,103.89

P&I Due Certificate Holders

8,235,862.08

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

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

Page 4 of 35

Fixed

Total

Interest Summary

Scheduled Interest

1,571,330.72

Fees

77,816.74

Remittance Interest

1,493,513.98

Other Interest Proceeds/Shortfalls

Prepayment Penalties

31,907.96

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

31,907.96

Interest Adjusted

1,525,421.94

Principal Summary

Scheduled Principal Distribution

135,353.89

Curtailments

7,948.11

Prepayments in Full

4,460,057.86

Liquidation Proceeds

21.87

Repurchase Proceeds

0.00

Other Principal Proceeds

(236.75)

Less Mod Losses

0.00

Remittance Principal

4,603,144.98

Fee Summary

Total Servicing Fees

77,579.99

Total Trustee Fees

0.00

LPMI Fees

0.00

Misc. Fees

236.75

Total Fees

77,816.74

Beginning Principal Balance

186,191,592.35

Ending Principal Balance

181,535,519.59

Advances (Principal & Interest)

Prior Month's Outstanding Advances

1,460,934.43

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

1,467,103.89

Distribution Date: 27-Nov-06

Cash Reconciliation Summary Fixed

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

Page 5 of 35

Distribution Date: 27-Nov-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

HELOC

Total

Interest Summary

Scheduled Interest

414,458.02

Fees

18,340.90

Remittance Interest

396,117.12

Other Interest Proceeds/Shortfalls

Prepayment Penalties

25,974.26

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

25,974.26

Interest Adjusted

422,091.38

Principal Summary

Scheduled Principal Distribution

99,355.53

Curtailments

(155,966.07)

Prepayments in Full

1,741,577.57

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

1,684,967.03

Fee Summary

Total Servicing Fees

18,340.90

Total Trustee Fees

0.00

LPMI Fees

0.00

Misc. Fees

0.00

Total Fees

18,340.90

Beginning Principal Balance

44,420,929.21

Ending Principal Balance

42,735,962.18

Advances (Principal & Interest)

Prior Month's Outstanding Advances

N/A

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

N/A

Cash Reconciliation Summary HELOC

27-Nov-2006 08:31

Page 6 of 35

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

249,716,798.49

5,040

3 mo. Rolling Average

4,781,271

230,400,954

2.09%

WAC - Remit Current

9.63%

8.09%

9.33%

Cum Scheduled Principal

1,044,247.59

6 mo. Rolling Average

3,862,245

233,604,981

1.68%

WAC - Remit Original

9.62%

9.83%

9.66%

Cum Unscheduled Principal

24,300,973.15

12 mo. Rolling Average

3,862,245

233,604,981

1.68%

WAC - Current

10.13%

11.20%

10.33%

Cum Liquidations

52,691.03

Loss Levels

Amount

Count

WAC - Original

10.12%

10.58%

10.21%

Cum Repurchases

0.00

3 mo. Cum Loss

52,691.03

WAL - Current

N/A

6 mo. Cum loss

52,691.03

WAL - Original

N/A

Current

Amount

Count

12 mo. Cum Loss

52,691.03

Beginning Pool

230,612,521.56

4,693

92.35%

Current Index Rate

Scheduled Principal

234,709.42

0.09%

Amortization Event

Next Index Rate

Unscheduled Principal

5,948,235.41

117

2.38%

Liquidations

52,691.03

0.02%

> Delinquency Trigger Event

(2)

Prepayment Charges

Repurchases

0.00

0.00%

Delinquency Event Calc

(1)

4,781,271.12

230,400,954

2.09%

Amount

Count

Ending Pool

224,271,481.77

4,575

89.81%

Current

31,907.96

> Trigger Event?

(3)

Cumulative

128,155.68

Ending Actual Balance

224,351,061.56

Cumulative Loss

52,691

0.02%

Average Loan Balance

49,021.09

> Overall Trigger Event?

Current Loss Detail

Amount

Step Down Date

Liquidation

50,752.09

Distribution Count

Realized Loss

52,691.03

Required Percentage

(4)

N/A

Pool Composition

Realized Loss Adjustment

0.00

Step Down %

(5)

33.70%

Net Liquidation

(1,938.94)

% of Required Percentage

(6)

13.20%

Properties

%/Score

Credit Enhancement

Amount

> Step Down Date?

Cut-off LTV

N/A

Cash Out/Refinance

38.10%

Original OC

9,245,798.00

3.70%

Extra Principal

743,594.60

SFR

79.19%

Target OC

16,481,308.70

6.60%

Cumulative Extra Principal

3,763,245.68

Owner Occupied

97.73%

Beginning OC

12,265,122.06

OC Release

N/A

Min

Max

Ending OC

12,955,788.88

FICO

528

810

676.03

Most Senior Certificates

152,053,399.50 26.55%

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.

N/A

88,051,330.62

183,001,178.42
225,842,423.48

Balance

Misc/Additional Information

Pool Level Information

5.320000%
5.320000%

Distribution Date: 27-Nov-06

Pool Detail and Performance Indicators Total (All Loans)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

Page 7 of 35

Distribution Date: 27-Nov-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

197,576,112.53

4,084

3 mo. Rolling Average

3,992,928

185,741,763

2.16%

WAC - Remit Current

9.63%

N/A

9.63%

Cum Scheduled Principal

593,750.69

6 mo. Rolling Average

3,208,740

187,801,726

1.73%

WAC - Remit Original

9.62%

N/A

9.62%

Cum Unscheduled Principal

15,394,129.35

12 mo. Rolling Average

3,208,740

187,801,726

1.73%

WAC - Current

10.13%

N/A

10.13%

Cum Liquidations

52,691.03

Loss Levels

Amount

Count

WAC - Original

10.12%

N/A

10.12%

Cum Repurchases

0.00

3 mo. Cum Loss

52,691.03

WAL - Current

N/A

6 mo. Cum loss

52,691.03

WAL - Original

N/A

Current

Amount

Count

12 mo. Cum Loss

52,691.03

Beginning Pool

186,191,592.35

3,876

94.24%

Scheduled Principal

135,353.89

0.07%

Unscheduled Principal

4,362,623.91

2.21%

Liquidations

52,691.03

0.03%

Prepayment Charges

Repurchases

0.00

0.00%

Amount

Count

Ending Pool

181,535,519.59

3,791

91.88%

Current

31,907.96

Cumulative

115,821.15

Ending Actual Balance

181,615,099.38

Average Loan Balance

47,885.92

Current Loss Detail

Amount

Liquidation

50,752.09

Realized Loss

52,691.03

Pool Composition

Realized Loss Adjustment

0.00

Net Liquidation

(1,938.94)

Properties

%/Score

Cut-off LTV

N/A

Cash Out/Refinance

30.95%

SFR

81.10%

Owner Occupied

97.19%

Min

Max

FICO

557

809

667.54

57,777,292.62

151,392,971.47
181,437,543.98

Balance

N/A

Pool Level Information

Pool Detail and Performance Indicators Fixed

Misc/Additional Information

27-Nov-2006 08:31

Page 8 of 35

Distribution Date: 27-Nov-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

52,140,685.96

956

3 mo. Rolling Average

788,344

44,659,192

1.78%

WAC - Remit Current

N/A

8.09%

Cum Scheduled Principal

450,496.90

6 mo. Rolling Average

653,505

45,803,255

1.46%

WAC - Remit Original

N/A

9.83%

Cum Unscheduled Principal

8,906,843.80

12 mo. Rolling Average

653,505

45,803,255

1.46%

WAC - Current

N/A

11.20%

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAC - Original

N/A

10.58%

Cum Repurchases

0.00

3 mo. Cum Loss

0.00

WAL - Current

N/A

6 mo. Cum loss

0.00

WAL - Original

N/A

Current

Amount

Count

12 mo. Cum Loss

0.00

Beginning Pool

44,420,929.21

817

85.19%

Scheduled Principal

99,355.53

0.19%

Trigger Events

Unscheduled Principal

1,585,611.50

3.04%

> Cumulative Realized Loss Percentage (1)

0.00%

Liquidations

0.00

0.00%

> Class G Certificate Trigger Percentage (2)

0.00%

Repurchases

0.00

0.00%

> Required Loss Trigger Percentage (3)

0.00%

Ending Pool

42,735,962.18

784

81.96%

Amortization Events

Average Loan Balance

54,510.16

Servicer Default

Draws

Issuing Entity Subject to Taxation

Draws

Current Loss Detail

Amount

HELOC Realized Loss Trigger

Collections Applied to Draws

Liquidation

0.00

Material Breach

Realized Loss

0.00

Documentation Error

Pool Composition

Realized Loss Adjustment

0.00

Class G Certificate Trigger

Net Liquidation

0.00

Required Loss Percentage Trigger

Properties

%/Score

Cut-off LTV

N/A

Cash Out/Refinance

68.18%

SFR

71.18%

Owner Occupied

100.00%

Min

Max

FICO

528

810

712.08

44,404,879.50

Legend:

(1)

HELOC Realized Losses > Initial HELOC Principal Balance

(2)

Class G Cert >= .50% of Stated Principal Balance

(3)

Cum Realized Losses for HELOC / Cutt-off HELOC balance > Required Loss Percentage

N/A

30,274,038.00
31,608,206.95

191,475.49

99,292.43

Balance

Pool Detail and Performance Indicators HELOC

Misc/Additional Information

Pool Level Information

27-Nov-2006 08:31

Page 9 of 35

Act/360

152,053,399.50

5.470000000%

762,421.09

0.00

762,421.09

0.00

M-1

Act/360

12,610,000.00

5.650000000%

65,309.29

0.00

65,309.29

0.00

M-2

Act/360

12,360,000.00

5.660000000%

64,127.80

0.00

64,127.80

0.00

M-3

Act/360

4,994,000.00

5.700000000%

26,093.65

0.00

26,093.65

0.00

M-4

Act/360

5,993,000.00

5.790000000%

31,807.85

0.00

31,807.85

0.00

M-5

Act/360

5,244,000.00

5.850000000%

28,120.95

0.00

28,120.95

0.00

M-6

Act/360

4,869,000.00

5.940000000%

26,511.71

0.00

26,511.71

0.00

M-7

Act/360

4,994,000.00

6.570000000%

30,076.37

0.00

30,076.37

0.00

M-8

Act/360

4,370,000.00

6.820000000%

27,319.78

0.00

27,319.78

0.00

M-9

Act/360

3,620,000.00

7.820000000%

25,949.37

0.00

25,949.37

0.00

B-1

Act/360

3,620,000.00

8.820000000%

29,267.70

0.00

29,267.70

0.00

B-2

Act/360

3,620,000.00

8.820000000%

29,267.70

0.00

29,267.70

0.00

Act/360

0.00

0.000000000%

0.00

N/A

30/360

230,612,521.56

0.000000000%

0.00

N/A

0.00

N/A

0.00

57,882.22

0.00

57,882.22

0.00

N/A

0.00

N/A

0.00

Total

218,347,399.50

1,146,273.26

57,882.22

0.00

1,204,155.48

0.00

- - Accrual - -

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

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

(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

Remaining

Basis Risk Carry-

Fwd Shortfall

Outstanding Relief

Act / Prepayment

Interest Shortfalls

27-Nov-2006 08:31

Page 10 of 35

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

M-7

31-Oct-06

25-Oct-06

27-Nov-06

0.00

M-8

31-Oct-06

25-Oct-06

27-Nov-06

0.00

M-9

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

31-Oct-06

25-Oct-06

27-Nov-06

0.00

31-Oct-06

25-Oct-06

27-Nov-06

0.00

31-Oct-06

25-Oct-06

27-Nov-06

0.00

57,882.22

0.00

31-Oct-06

25-Oct-06

27-Nov-06

0.00

Total

0.00

57,882.22

0.00

Prior Interest Due

Date

Current Interest

Due Date

Prior Shortfall

Reimbursement

Other Interest

Proceeds

(1)

Class

Interest Rate

SWAP Agreement

Deposits from YM

Agreement

Prior Int Carry-Fwd

Shortfall

Distribution Date: 27-Nov-06

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

Merrill Lynch Mortgage Investors Trust

Current Int Carry-

Fwd Shortfall

(2)

Current Basis Risk

Carry-Fwd Shortfall

(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

27-Nov-2006 08:31

Page 11 of 35

174,177,000.00

152,053,399.50

234,709.42

6,053,402.59

743,594.60

0.00

145,021,692.89

25-May-37

30.25%

34.25%

M-1

12,610,000.00

0.00

12,610,000.00

25-May-37

25.20%

28.53%

M-2

12,360,000.00

0.00

12,360,000.00

25-May-37

20.25%

22.93%

M-3

4,994,000.00

0.00

4,994,000.00

25-May-37

18.25%

20.66%

M-4

5,993,000.00

0.00

5,993,000.00

25-May-37

15.85%

17.95%

M-5

5,244,000.00

0.00

5,244,000.00

25-May-37

13.75%

15.57%

M-6

4,869,000.00

0.00

4,869,000.00

25-May-37

11.80%

13.36%

M-7

4,994,000.00

0.00

4,994,000.00

25-May-37

9.80%

11.10%

M-8

4,370,000.00

0.00

4,370,000.00

25-May-37

8.05%

9.12%

M-9

3,620,000.00

0.00

3,620,000.00

25-May-37

6.60%

7.47%

B-1

3,620,000.00

0.00

3,620,000.00

25-May-37

5.15%

5.83%

B-2

3,620,000.00

0.00

3,620,000.00

25-May-37

3.70%

4.19%

0.00

25-May-37

N/A

249,716,798.49

230,612,521.56

0.00

224,271,481.77

25-May-37

N/A

0.00

25-May-37

N/A

100.00

0.00

25-May-37

30.25%

N/A

Total

240,471,100.00

218,347,399.50

234,709.42

6,053,402.59

743,594.60

0.00

211,315,692.89

Cumulative

Losses

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

Extra

Principal
Payment

Prior
Loss

Reimburs.

Bond Principal Reconciliation

Unscheduled

Principal
Payment

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

27-Nov-2006 08:31

Page 12 of 35

Class

CUSIP

Fitch

Moody's

DBRS

S&P

59021BAA4

AAA

Aaa

AAA

M-1

59021BAB2

AA+

Aa1

AA+

M-2

59021BAC0

Aa2

M-3

59021BAD8

AA-

Aa3

AA-

M-4

59021BAE6

A+

M-5

59021BAF3

M-6

59021BAG1

A-

M-7

59021BAH9

BBB+

Baa1

BBB+

M-8

59021BAJ5

BBB

Baa2

BBB

M-9

59021BAK2

BBB-

Baa3

BBB-

B-1

59021BAL0

BB+

Ba1

BB+

B-2

59021BAM8

Ba2

59021BAN6

AAA

Aaa

AAA

59021BAQ9

59021BAP1

59021BAR7

AAA

16-Aug-06

Ratings Information

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

27-Nov-2006 08:31

Page 13 of 35

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

27-Nov-06

4,372

213,221,328

5,063,260

1,607,170

3,564,781

508,316

306,626

25-Oct-06

4,528

221,480,275

4,009,995

2,131,260

2,685,198

170,266

135,528

25-Sep-06

4,658

228,793,143

4,291,050

2,566,777

569,993

97,898

25-Aug-06

4,799

236,916,281

5,195,615

956,320

21,433

127,412

27-Nov-06

95.56%

95.07%

1.99%

2.26%

0.70%

0.72%

1.38%

1.59%

0.26%

0.23%

0.11%

0.14%

0.00%

25-Oct-06

96.48%

96.04%

1.58%

1.74%

0.81%

0.92%

0.98%

1.16%

0.11%

0.07%

0.04%

0.06%

0.00%

25-Sep-06

97.20%

96.82%

1.54%

1.82%

0.94%

1.09%

0.23%

0.24%

0.08%

0.04%

0.00%

25-Aug-06

97.54%

97.41%

1.97%

2.14%

0.39%

0.02%

0.01%

0.08%

0.05%

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)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

Page 14 of 35

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)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-06

3,612

172,228,257

4,183,282

1,316,524

3,150,884

404,947

251,627

25-Oct-06

3,738

178,745,447

3,190,644

1,703,293

2,246,413

170,266

135,528

25-Sep-06

3,820

183,161,370

3,737,506

2,135,402

366,001

97,898

25-Aug-06

3,913

188,704,703

4,420,735

752,329

21,433

82,416

27-Nov-06

95.28%

94.87%

2.08%

2.30%

0.74%

0.73%

1.53%

1.74%

0.26%

0.22%

0.11%

0.14%

0.00%

25-Oct-06

96.44%

96.00%

1.55%

1.71%

0.80%

0.91%

1.03%

1.21%

0.13%

0.09%

0.05%

0.07%

0.00%

25-Sep-06

97.08%

96.66%

1.65%

1.97%

0.97%

1.13%

0.20%

0.19%

0.10%

0.05%

0.00%

25-Aug-06

97.41%

97.28%

2.09%

2.28%

0.40%

0.39%

0.02%

0.01%

0.07%

0.04%

0.00%

Fixed

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

27-Nov-2006 08:31

Page 15 of 35

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)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-06

760

40,993,071

879,979

290,647

413,897

103,369

54,999

25-Oct-06

790

42,734,827

819,350

427,966

438,785

25-Sep-06

838

45,631,772

553,544

431,375

203,992

25-Aug-06

891

48,211,578

774,881

203,992

44,996

27-Nov-06

96.94%

95.92%

1.53%

2.06%

0.51%

0.68%

0.64%

0.97%

0.26%

0.24%

0.13%

0.00%

25-Oct-06

96.70%

96.20%

1.71%

1.84%

0.86%

0.96%

0.73%

0.99%

0.00%

25-Sep-06

97.78%

97.46%

1.05%

1.18%

0.82%

0.92%

0.35%

0.44%

0.00%

25-Aug-06

98.13%

97.92%

1.43%

1.57%

0.33%

0.41%

0.00%

0.11%

0.09%

0.00%

HELOC

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

27-Nov-2006 08:31

Page 16 of 35

Balance

27-Nov-06

41,746

264,881

153,452

80,381

37,795

236,688

25-Oct-06

135,528

132,454

37,813

25-Sep-06

76,035

21,862

25-Aug-06

67,692

59,720

27-Nov-06

0.00%

0.02%

0.09%

0.12%

0.00%

0.11%

0.07%

0.04%

0.02%

0.09%

0.11%

25-Oct-06

0.00%

0.04%

0.06%

0.00%

0.09%

0.06%

0.02%

0.00%

25-Sep-06

0.00%

0.06%

0.03%

0.02%

0.01%

0.00%

25-Aug-06

0.00%

0.04%

0.03%

0.04%

0.02%

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)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

Page 17 of 35

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)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-06

41,746

209,881

153,452

80,381

37,795

133,318

25-Oct-06

135,528

132,454

37,813

25-Sep-06

76,035

21,862

25-Aug-06

22,696

59,720

27-Nov-06

0.00%

0.03%

0.02%

0.08%

0.12%

0.00%

0.13%

0.08%

0.05%

0.04%

0.03%

0.02%

0.05%

0.07%

25-Oct-06

0.00%

0.05%

0.07%

0.00%

0.10%

0.07%

0.03%

0.02%

0.00%

25-Sep-06

0.00%

0.08%

0.04%

0.03%

0.01%

0.00%

25-Aug-06

0.00%

0.02%

0.01%

0.05%

0.03%

0.00%

Fixed

27-Nov-2006 08:31

Page 18 of 35

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)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-06

54,999

103,369

25-Oct-06

25-Sep-06

25-Aug-06

44,996

27-Nov-06

0.00%

0.13%

0.00%

0.26%

0.24%

25-Oct-06

0.00%

25-Sep-06

0.00%

25-Aug-06

0.00%

0.11%

0.09%

0.00%

HELOC

27-Nov-2006 08:31

Page 19 of 35

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

27-Nov-06

4,575

224,271,482

117

6,201,635

0.00

(1,938.94)

52,691

10.33%

9.83%

25-Oct-06

4,693

230,612,522

5,584,822

0.00

10.27%

9.77%

25-Sep-06

4,792

236,318,860

133

6,792,662

0.00

10.13%

9.63%

25-Aug-06

4,920

243,217,062

120

6,367,109

0.00

10.21%

9.71%

27-Nov-06

3,791

181,535,520

4,460,058

0.00

-1,938.94

52,691

10.13%

9.63%

25-Oct-06

3,876

186,191,592

3,145,047

0.00

10.12%

9.62%

25-Sep-06

3,935

189,498,176

4,313,154

0.00

10.12%

9.62%

25-Aug-06

4,017

193,981,615

3,415,443

0.00

10.12%

9.62%

Curr Weighted Avg.

Total (All Loans)

Fixed

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 27-Nov-06

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

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

Page 20 of 35

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

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-06

784

42,735,962

1,741,578

0.00

11.20%

10.70%

25-Oct-06

817

44,420,929

2,439,775

0.00

10.89%

10.40%

25-Sep-06

857

46,820,684

2,479,508

0.00

10.16%

9.69%

25-Aug-06

908

49,235,446

2,951,666

0.00

10.56%

10.06%

HELOC

27-Nov-2006 08:31

Page 21 of 35

SMM (Single Monthly Mortality)

Total

Current Period

2.71%

3-Month Average

2.63%

6-Month Average

2.61%

12-Month Average

2.61%

Average Since Cut-Off

2.61%

CPR (Conditional Prepayment Rate)

Total

Current Period

28.13%

3-Month Average

27.31%

6-Month Average

27.15%

12-Month Average

27.15%

Average Since Cut-Off

27.15%

PSA (Public Securities Association)

Total

Current Period

469%

3-Month Average

455%

6-Month Average

453%

12-Month Average

453%

Average Since Cut-Off

453%

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

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

27-Nov-2006 08:31

Page 22 of 35

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

20,000

582

12.49%

8,161,178

3.64%

20,000

541

10.73%

8,987,826

3.60%

20,000

24,000

349

7.49%

7,719,179

3.44%

20,000

24,000

366

7.26%

8,099,925

3.24%

24,000

28,000

442

9.48%

11,490,127

5.12%

24,000

28,000

477

9.46%

12,394,158

4.96%

28,000

32,000

365

7.83%

10,976,494

4.89%

28,000

32,000

409

8.12%

12,321,093

4.93%

32,000

36,000

396

8.50%

13,542,722

6.04%

32,000

36,000

429

8.51%

14,704,585

5.89%

36,000

39,000

202

4.33%

7,591,163

3.38%

36,000

40,000

313

6.21%

11,953,080

4.79%

39,000

49,000

656

14.08%

28,882,256

12.88%

40,000

50,000

706

14.01%

31,908,548

12.78%

49,000

59,000

439

9.42%

23,610,390

10.53%

50,000

60,000

455

9.03%

25,024,581

10.02%

59,000

69,000

304

6.52%

19,382,862

8.64%

60,000

70,000

342

6.79%

22,191,929

8.89%

69,000

79,000

267

5.73%

19,672,341

8.77%

70,000

80,000

297

5.89%

22,256,695

8.91%

79,000

90,000

208

4.46%

17,536,960

7.82%

80,000

91,000

207

4.11%

17,705,626

7.09%

90,000

436,000

450

9.66%

55,705,809

24.84%

91,000

440,000

498

9.88%

62,168,752

24.90%

4,660

100.00%

224,271,482

100.00%

5,040

100.00%

249,716,798

100.00%

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

4.00%

7.88%

495

10.62%

32,539,504

14.51%

5.13%

7.38%

526

10.44%

31,564,778

12.64%

7.88%

8.31%

182

3.91%

9,828,377

4.38%

7.38%

7.92%

392

7.78%

18,776,942

7.52%

8.31%

8.75%

309

6.63%

14,965,502

6.67%

7.92%

8.47%

179

3.55%

7,693,559

3.08%

8.75%

9.19%

560

12.02%

20,946,756

9.34%

8.47%

9.02%

580

11.51%

21,669,562

8.68%

9.19%

9.63%

401

8.61%

17,581,436

7.84%

9.02%

9.56%

327

6.49%

16,309,763

6.53%

9.63%

10.12%

404

8.67%

17,870,136

7.97%

9.56%

10.17%

516

10.24%

27,054,393

10.83%

10.12%

10.39%

209

4.48%

10,130,927

4.52%

10.17%

10.44%

220

4.37%

11,146,498

4.46%

10.39%

10.66%

298

6.39%

14,426,700

6.43%

10.44%

10.70%

371

7.36%

18,766,173

7.51%

10.66%

10.92%

387

8.30%

18,616,364

8.30%

10.70%

10.97%

487

9.66%

24,960,270

10.00%

10.92%

11.19%

446

9.57%

21,333,054

9.51%

10.97%

11.23%

399

7.92%

19,205,858

7.69%

11.19%

11.50%

506

10.86%

23,812,339

10.62%

11.23%

11.55%

526

10.44%

26,638,277

10.67%

11.50%

15.25%

463

9.94%

22,220,388

9.91%

11.55%

15.25%

517

10.26%

25,930,726

10.38%

4,660

100.00%

224,271,482

100.00%

5,040

100.00%

249,716,798

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

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

Page 23 of 35

3,876

181,535,520

80.94%

0.00

10.13%

4,084

197,576,113

79.12%

208.19

10.12%

784

42,735,962

19.06%

0.00

8.61%

956

52,140,686

20.88%

331.00

8.60%

4,660

224,271,482

100.00%

5,040

249,716,798

100.00%

3,691

177,508,122

79.15%

0.00

9.83%

4,001

197,744,566

79.19%

232.64

9.76%

548

27,128,456

12.10%

0.00

9.85%

587

30,511,816

12.22%

233.26

9.91%

421

19,634,904

8.75%

0.00

9.96%

452

21,460,417

8.59%

245.57

9.96%

4,660

224,271,482

100.00%

5,040

249,716,798

100.00%

Total

Distribution by Property Types (Cut-off)

Fixed 2nd Lien

Adjustable

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

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

Fixed 2nd Lien

Adjustable

Total

SF Unattached Dwelling

PUD

Condo - Low Facility

Total

SF Unattached Dwelling

PUD

Condo - Low Facility

27-Nov-2006 08:31

Page 24 of 35

Mortgage Loan Characteristics Part II

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

Distribution Date: 27-Nov-06

4,470

217,735,106

97.09%

0.00

9.81%

4,831

242,305,648

97.03%

234.27

9.76%

153

4,973,731

2.22%

0.00

11.05%

171

5,797,870

2.32%

209.54

11.08%

1,562,644

0.70%

0.00

10.74%

1,613,281

0.65%

255.41

10.79%

4,660

224,271,482

100.00%

5,040

249,716,798

100.00%

2,982

139,155,034

62.05%

0.00

10.31%

3,169

152,795,713

61.19%

216.81

10.32%

1,003

50,411,211

22.48%

0.00

9.03%

1,123

57,848,087

23.17%

264.11

9.26%

675

34,705,237

15.47%

0.00

9.17%

748

39,072,999

15.65%

255.55

8.57%

4,660

224,271,482

100.00%

5,040

249,716,798

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

Purchase

Refinance/Equity Takeout

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

Purchase

Refinance/Equity Takeout

Refinance/No Cash Out

Total

27-Nov-2006 08:31

Page 25 of 35

Mortgage Loan Characteristics Part II

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

Distribution Date: 27-Nov-06

1,486

69,440,494

56.14%

0.00

10.71%

1,538

74,096,749

46.12%

180.00

10.71%

530

27,507,356

22.24%

0.00

7.52%

582

30,728,773

19.12%

233.65

7.53%

717

26,745,332

21.62%

0.00

10.28%

746

28,806,762

17.93%

183.67

10.29%

596

27,041,756

16.83%

360.00

7.20%

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

Fieldstone

Citi

Decision One

Quicken

27-Nov-2006 08:31

Page 26 of 35

WAMM

WAC

California

922

73,034,580

32.57%

9.84%

Florida

357

18,087,669

8.07%

10.15%

Michigan

290

10,853,339

4.84%

9.41%

Illinois

260

10,406,210

4.64%

10.44%

Colorado

231

9,723,581

4.34%

9.71%

Arizona

174

8,289,139

3.70%

9.99%

Texas

292

7,899,214

3.52%

9.12%

Georgia

183

6,776,219

3.02%

9.85%

Washington

149

6,574,223

2.93%

10.40%

Minnesota

154

6,382,139

2.85%

9.54%

Remaining

1,648

66,245,169

29.54%

9.77%

WAMM

WAC

California

1,008

80,795,714

32.35%

227

10.02%

Florida

390

20,539,328

8.23%

238

10.25%

Illinois

281

12,327,184

4.94%

216

10.38%

Michigan

323

12,023,929

4.82%

327

8.11%

Colorado

243

10,409,033

4.17%

228

9.66%

Arizona

188

9,138,263

3.66%

220

10.11%

Texas

293

7,995,822

3.20%

188

9.13%

Washington

160

7,562,065

3.03%

213

10.41%

Georgia

198

7,487,212

3.00%

236

9.86%

Maryland

116

7,327,555

2.93%

228

9.96%

Remaining

1,840

74,110,693

29.68%

238

9.58%

(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

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

Top 10 Current State Concentration

California

Illinois

Michigan

Florida

Minnesota

Washington

Georgia

Texas

Arizona

Colorado

Remaining

27-Nov-2006 08:31

Page 27 of 35

160612

200611

50,752.09

(1,938.94)

50,752.09

52,691.03

Current Total

50,752.09

(1,938.94)

50,752.09

52,691.03

Cumulative

50,752.09

(1,938.94)

50,752.09

52,691.03

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

52,691.03

1,938.94

Distribution Date: 27-Nov-06

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

27-Nov-2006 08:31

Page 28 of 35

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

50,752.09

(1,938.94)

52,691.03

0.00

52,691.03

25-Oct-06

0.00

25-Sep-06

0.00

25-Aug-06

0.00

Total

50,752.09

(1,938.94)

52,691.03

0.00

52,691.03

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)

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

Distribution Date: 27-Nov-06

27-Nov-2006 08:31

Page 29 of 35

Historical Realized Loss Summary

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

50,752.09

(1,938.94)

52,691.03

0.00

52,691.03

25-Oct-06

0.00

25-Sep-06

0.00

25-Aug-06

0.00

Total

50,752.09

(1,938.94)

52,691.03

0.00

52,691.03

Fixed

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

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

Claims on Prior Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

27-Nov-2006 08:31

Page 30 of 35

Historical Realized Loss Summary

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

Total

0.00

Claims on Prior Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

HELOC

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

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

27-Nov-2006 08:31

Page 31 of 35

MDR (monthly Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

CDR (Conditional Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

SDA (Standard Default Assumption)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

MDR

Monthly Default Rate

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

CDR

Conditional Default Rate

1 - (1 - MDR)^

SDA

Standard Default Assumption

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

WAS

Weighted Average Seasoning

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

Distribution Date: 27-Nov-06

Realized Loss Summary

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

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

27-Nov-2006 08:31

Page 32 of 35

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

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

Page 33 of 35

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

Merrill Lynch Mortgage Investors Trust

Mortgage Loan Asset-Backed Certificates

Series 2006- SL2

27-Nov-2006 08:31

Page 34 of 35

Total

0.00

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- SL2

Appraisal

Date

Disclosure

Control #

REO Date

Recent

Appraisal Value

Scheduled

Balance

City

State

Property Type

Actual Balance

27-Nov-2006 08:31

Page 35 of 35

MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-SL2 10-D