10-D 1 final_2006-01.txt 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-D ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the monthly distribution period from March 1, 2006 to March 31, 2006 Commission File Number of issuing entity: 333-109722-01 ----------------- CITICORP MORTGAGE SECURITIES TRUST, SERIES 2006-01 ------------------------------------------------------------------------ (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-109722 ---------------------- CITICORP MORTGAGE SECURITIES, INC. ------------------------------------------------------------------------ (Exact name of depositor as specified in its charter) CITIMORTGAGE, INC. ------------------------------------------------------------------------- (Exact name of sponsor as specified in its charter) New York ----------------------------------------------------------------------------- (State or other jurisdiction of incorporation or organzation of the issuing entity) 03-0582717 and 03-0582722 ---------------------------------------------------------------------------- (I.R.S. Employer Identification No.) 1000 Technology Drive, O'Fallon, Missouri 63368-2240 ---------------------------------------- ---------- (Address of principal executive offices of the issuing entity) (Zip Code) (636) 261-1300 ------------------------------------------------------------------------- (Telephone number, including area code) -------------------------------------------------------------------------- (Former name, former address. if changed since last report.) Registered/reporting pursuant to (check one) Title Name of exchange of Class Section 12(b) Section 12(g) Section 15(d) (if Section 12(b)) Class IVA-1 { } { } {X} _____________ Class IIA-1 { } { } {X} _____________ Class VA-1 { } { } {X} _____________ Class IA-1 { } { } {X} _____________ Class IA-2 { } { } {X} _____________ Class IA-3 { } { } {X} _____________ Class IA-4 { } { } {X} _____________ Class IA-5 { } { } {X} _____________ Class IA-6 { } { } {X} _____________ Class IA-7 { } { } {X} _____________ Class IA-8 { } { } {X} _____________ Class IA-9 { } { } {X} _____________ Class IA-10 { } { } {X} _____________ Class IA-11 { } { } {X} _____________ Class IA-12 { } { } {X} _____________ Class IA-13 { } { } {X} _____________ Class IIIA-1 { } { } {X} _____________ Class IIIA-2 { } { } {X} _____________ Class A-PO2 { } { } {X} _____________ Class A-PO1 { } { } {X} _____________ Class B-1 { } { } {X} _____________ Class B-2 { } { } {X} _____________ Class B-3 { } { } {X} _____________ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes{X} No{ } 1 2 Part I - DISTRIBUTION INFORMATION Item 1. Distribution and Pool Performance Information On April 25, 2006 a distribution was made to holders of Citicorp Mortgage Securities, Inc. REMIC Pass-Through Certificates, Series 2006-01 issued by Citicorp Mortgage Securities Trust, Series 2006-01. The monthly distribution report is attached as an Exhibit to this Form 10-D. Please see Item 9(b), Exhibit 99.1. Item 3. Sales of Securities and Use of Proceeds. Simultaneously with the issuance of the Offered Certificates, the Depositor sold $1,661,000.00 initial principal amount of Class B-4, $830,000.00 initial principal amount of Class B-5, and $1,248,270.91 initial principal amount of Class B-6 Certificates (the "Private Certificates") to Credit Suisse Securities (USA) LLC on February 27, 2006 in a transaction exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof. The net proceeds of the sale of the Private Certificates, five classes of interest only notional certificates, and the residual certificates were applied to the purchase of the mortgage loans from CitiMortgage, Inc. Part II - OTHER INFORMATION Item 9. Exhibits (a) The following are documents filed as part of this Form 10-D: (99.1) Monthly distribution report for the month of March 2006. (b) Exhibits required to be filed by Form 10-D and Item 601 of Regulation S-K: (4.1) Pooling and Servicing Agreement, dated as of February 01, 2006, among Citicorp Mortgage Securities, Inc., CitiMortgage, Inc., U.S. Bank National Association, and Citibank, N.A. (incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K filed by the issuing entity with the Securities and Exchange Commission on March 13, 2006.) (10.1) Form of Mortgage Loan Purchase Agreement, dated February 01, 2006, between Citicorp Mortgage Securities, Inc. and CitiMortgage, Inc. (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by the issuing entity with the Securities and Exchange Commission on March 13, 2006.) (99.1) Monthly distribution report for the month of March 2006. 2 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CITICORP MORTGAGE SECURITIES, INC. Depositor By: /s/ Cathy Johnson ------------------------- Cathy Johnson Assistant Vice President Dated: April 26, 2006 3 Exhibit No. Description ----------- ------------- (99.1) Monthly distribution report for the month of March 2006. 4 EXHIBIT 99.1 ------------- Citicorp Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CMSI 2006-01 Payment Date: 04/25/2006 Issuer: Citicorp Mortgage Securities, Inc. Record Date: 31-Mar-06 Determination Date: 04/18/2006 Distribution Date: 25-Apr-06 Distribution #: 2 W.A.C. 5.88% Trustee U.S. Bank National Association Clare M. O'Brien (617) 603-6402 Bond Administrator CitiMortgage, Inc. Tim Daengsurisri (636) 261-1365 Paying Agent: Citibank N.A. Nancy Forte (212) 816-5685

6 Citicorp Mortgage Securities, Inc. Distribution Date Statement to Certificate Holders Remic Pass-Through Certificate Series Name: CMSI 2006-01 Payment Date: 04/25/2006

7 Citicorp Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CMSI 2006-01 Payment Date: 04/25/2006

8 Citicorp Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CMSI 2006-01 Payment Date: 04/25/2006

9 Citicorp Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CMSI 2006-01 Payment Date: 04/25/2006 Delinquency Status - Determined by the MBA Method -------------------------------------------------- 30 - 59 days Delq 60+ days Book Value REO ----------------------------------------------------- Number 3 0 0 Amount $1,482,731.06 $0.00 $0.00 Stated Collateral Information ------------------------------- Service Fees Begin Balance Aggregate Adj Balance -------------------------------------------------------------------- $74,904.24 $828,821,211.73 $823,243,723.66 Advances ------------ Voluntary Advances $0.00 Trustee Advances $0.00 Advance Account Advances $0.00 Certificate Account Advances $75,672.39 Summary of Disbursements ------------------------- Withdrawals Remittances Residual and (Deposits) P&I Distributed ----------------------------------------------------------------- $9,469,367.82 $0.00 $0.00 $9,469,367.82 10 Citicorp Mortgage Securities, Inc. Distribution Date Statement to Certificateholders Remic Pass-Through Certificate Series Name: CMSI 2006-01 Payment Date: 04/25/2006 COLLATERAL INFORMATION: GENERAL INFORMATION: AT ISSUE BEGINNING ENDING WAC-SCHED BAL 5.88% 5.88% WAM 317 316 315 AVG LTV 64 64 64 AVG LOAN SIZE $571,845 $570,814 $569,325 # OF LOANS 1,453 1,452 1,446 ACTUAL BALANCE $830,890,684.91 $829,783,412.17 $824,110,493.56 SCHEDULED BALANCE $830,890,684.91 $828,821,211.73 $823,243,723.66 TYPE OF DWELLING UNIT: AT ISSUE CURRENT SNGL FAM DET 84% 84% 2-4 FAMILY 3% 3% TOWNHOUSE 1% 1% CONDOMINIUM 6% 6% COOPERATIVE 6% 6% GEOGRAPHIC DISTRIBUTION: LTV DISTRIBUTION: AT ISSUE CURRENT AT ISSUE CURRENT 65% AND BELOW 46% 46% CA 33% CA 33% 65.01-75% 22% 22% NY 19% NY 19% 75.01-80% 32% 32% NJ 5% NJ 5% OVER 80% 0% 0% MA 4% MA 4% FL 4% FL 4% OTHER 35% OTHER 35% CREDIT ENHANCEMENT: AT ISSUE CURRENT SUBORDINATION 2.50% $20,772,270.91 2.51% $20,703,244.75 CUMULATIVE LOSS REDUCTION $0.00 PREPAYMENT INFORMATION: SCHEDULED PRINCIPAL: $1,382,383.05 PRINCIPAL PREPAYMENTS: $4,195,105.02 1 MONTH 3 MONTH 12 MONTH CUMULATIVE PRICING SPEED(CPR):See Prospectus PREPAYMENT HISTORY(PSA): 577% 0% 0% 377% PREPAYMENT HISTORY(CPR): 5.93% 0.00% 0.00% 3.50% DELINQUENCY (1)

(1) DETERMINED BY THE MBA METHOD. (2) DOES NOT INCLUDE REAL ESTATE OWNED BY THE TRUST. ------------------------------------------------------------------------------- 30 REG COLLATERAL INFORMATION: GENERAL INFORMATION: AT ISSUE BEGINNING ENDING WAC-SCHED BAL 6.00% 6.00% WAM 357 356 355 AVG LTV 66 66 66 AVG LOAN SIZE $573,304 $572,767 $571,609 # OF LOANS 1,036 1,035 1,031 ACTUAL BALANCE $593,942,929.96 $593,254,396.93 $589,710,820.01 SCHEDULED BALANCE $593,942,929.96 $592,814,127.14 $589,328,844.97 TYPE OF DWELLING UNIT: AT ISSUE CURRENT SNGL FAM DET 82% 82% 2-4 FAMILY 3% 3% TOWNHOUSE 2% 2% CONDOMINIUM 6% 6% COOPERATIVE 7% 7% GEOGRAPHIC DISTRIBUTION: LTV DISTRIBUTION: AT ISSUE CURRENT AT ISSUE CURRENT 65% AND BELOW 43% 43% CA 34% CA 35% 65.01-75% 22% 22% NY 21% NY 21% 75.01-80% 35% 35% NJ 4% NJ 5% OVER 80% 0% 0% MD 4% MD 4% MA 3% MA 3% OTHER 34% OTHER 32% PREPAYMENT INFORMATION: SCHEDULED PRINCIPAL: $606,548.28 PRINCIPAL PREPAYMENTS: $2,878,733.89 1 MONTH 3 MONTH 12 MONTH CUMULATIVE PRICING SPEED(CPR):See Prospectus PREPAYMENT HISTORY(PSA): 568% 0% 0% 378% PREPAYMENT HISTORY(CPR): 5.68% 0.00% 0.00% 3.40% DELINQUENCY (1)

(1) DETERMINED BY THE MBA METHOD. (2) DOES NOT INCLUDE REAL ESTATE OWNED BY THE TRUST. ------------------------------------------------------------------------------- 15 REG COLLATERAL INFORMATION: GENERAL INFORMATION: AT ISSUE BEGINNING ENDING WAC-SCHED BAL 5.56% 5.56% WAM 177 176 175 AVG LTV 57 57 57 AVG LOAN SIZE $584,691 $582,370 $579,702 # OF LOANS 223 223 221 ACTUAL BALANCE $130,386,201.96 $130,190,245.48 $128,422,498.26 SCHEDULED BALANCE $130,386,201.96 $129,868,414.11 $128,114,174.10 TYPE OF DWELLING UNIT: AT ISSUE CURRENT SNGL FAM DET 86% 87% 2-4 FAMILY 1% 1% TOWNHOUSE 2% 1% CONDOMINIUM 7% 7% COOPERATIVE 4% 4% GEOGRAPHIC DISTRIBUTION: LTV DISTRIBUTION: AT ISSUE CURRENT AT ISSUE CURRENT 65% AND BELOW 65% 65% CA 28% CA 29% 65.01-75% 19% 19% NY 16% NY 16% 75.01-80% 16% 16% FL 8% FL 8% OVER 80% 0% 0% MA 4% MA 4% AZ 3% AZ 3% OTHER 41% OTHER 40% PREPAYMENT INFORMATION: SCHEDULED PRINCIPAL: $480,570.38 PRINCIPAL PREPAYMENTS: $1,273,669.63 1 MONTH 3 MONTH 12 MONTH CUMULATIVE PRICING SPEED(CPR):See Prospectus PREPAYMENT HISTORY(PSA): 1,121% 0% 0% 661% PREPAYMENT HISTORY(CPR): 11.21% 0.00% 0.00% 5.95% DELINQUENCY (1)

(1) DETERMINED BY THE MBA METHOD. (2) DOES NOT INCLUDE REAL ESTATE OWNED BY THE TRUST. ------------------------------------------------------------------------------- 30 RELO COLLATERAL INFORMATION: GENERAL INFORMATION: AT ISSUE BEGINNING ENDING WAC-SCHED BAL 5.56% 5.56% WAM 356 355 354 AVG LTV 72 72 72 AVG LOAN SIZE $568,444 $566,456 $565,652 # OF LOANS 85 85 85 ACTUAL BALANCE $48,317,709.74 $48,183,508.68 $48,115,026.56 SCHEDULED BALANCE $48,317,709.74 $48,148,732.98 $48,080,377.91 TYPE OF DWELLING UNIT: AT ISSUE CURRENT SNGL FAM DET 97% 97% 2-4 FAMILY 0% 0% TOWNHOUSE 0% 0% CONDOMINIUM 2% 2% COOPERATIVE 1% 1% GEOGRAPHIC DISTRIBUTION: LTV DISTRIBUTION: AT ISSUE CURRENT AT ISSUE CURRENT 65% AND BELOW 28% 28% CA 25% CA 26% 65.01-75% 21% 21% NJ 13% NJ 13% 75.01-80% 50% 50% CT 9% CT 9% OVER 80% 1% 1% VA 8% VA 9% GA 7% GA 7% OTHER 38% OTHER 36% PREPAYMENT INFORMATION: SCHEDULED PRINCIPAL: $54,366.19 PRINCIPAL PREPAYMENTS: $13,988.88 1 MONTH 3 MONTH 12 MONTH CUMULATIVE PRICING SPEED(CPR):See Prospectus PREPAYMENT HISTORY(PSA): 37% 0% 0% 175% PREPAYMENT HISTORY(CPR): 0.37% 0.00% 0.00% 1.62% DELINQUENCY (1)

(1) DETERMINED BY THE MBA METHOD. (2) DOES NOT INCLUDE REAL ESTATE OWNED BY THE TRUST. ------------------------------------------------------------------------------- 10 REG COLLATERAL INFORMATION: GENERAL INFORMATION: AT ISSUE BEGINNING ENDING WAC-SCHED BAL 5.45% 5.45% WAM 115 114 113 AVG LTV 53 53 53 AVG LOAN SIZE $561,016 $557,003 $552,820 # OF LOANS 43 43 43 ACTUAL BALANCE $24,123,681.88 $24,048,389.63 $23,851,582.88 SCHEDULED BALANCE $24,123,681.88 $23,951,109.13 $23,771,279.22 TYPE OF DWELLING UNIT: AT ISSUE CURRENT SNGL FAM DET 94% 94% 2-4 FAMILY 0% 0% TOWNHOUSE 0% 0% CONDOMINIUM 6% 6% COOPERATIVE 0% 0% GEOGRAPHIC DISTRIBUTION: LTV DISTRIBUTION: AT ISSUE CURRENT AT ISSUE CURRENT 65% AND BELOW 66% 66% CA 29% CA 29% 65.01-75% 26% 26% MO 11% MO 11% 75.01-80% 8% 8% NJ 11% NJ 11% OVER 80% 0% 0% MA 9% MA 9% AL 7% AL 7% OTHER 33% OTHER 33% PREPAYMENT INFORMATION: SCHEDULED PRINCIPAL: $161,923.19 PRINCIPAL PREPAYMENTS: $17,906.72 1 MONTH 3 MONTH 12 MONTH CUMULATIVE PRICING SPEED(CPR):See Prospectus PREPAYMENT HISTORY(PSA): 79% 0% 0% 72% PREPAYMENT HISTORY(CPR): 1.01% 0.00% 0.00% 0.84% DELINQUENCY (1)

(1) DETERMINED BY THE MBA METHOD. (2) DOES NOT INCLUDE REAL ESTATE OWNED BY THE TRUST. ------------------------------------------------------------------------------- 20 REG COLLATERAL INFORMATION: GENERAL INFORMATION: AT ISSUE BEGINNING ENDING WAC-SCHED BAL 5.89% 5.89% WAM 234 233 232 AVG LTV 61 61 61 AVG LOAN SIZE $516,972 $515,740 $514,380 # OF LOANS 66 66 66 ACTUAL BALANCE $34,120,161.37 $34,106,871.45 $34,010,565.85 SCHEDULED BALANCE $34,120,161.37 $34,038,828.37 $33,949,047.46 TYPE OF DWELLING UNIT: AT ISSUE CURRENT SNGL FAM DET 85% 85% 2-4 FAMILY 4% 4% TOWNHOUSE 1% 1% CONDOMINIUM 6% 6% COOPERATIVE 4% 4% GEOGRAPHIC DISTRIBUTION: LTV DISTRIBUTION: AT ISSUE CURRENT AT ISSUE CURRENT 65% AND BELOW 59% 59% CA 38% CA 38% 65.01-75% 17% 17% NY 18% NY 18% 75.01-80% 24% 24% MA 9% MA 9% OVER 80% 0% 0% VA 8% VA 8% OH 7% OH 7% OTHER 20% OTHER 20% PREPAYMENT INFORMATION: SCHEDULED PRINCIPAL: $78,975.01 PRINCIPAL PREPAYMENTS: $10,805.90 1 MONTH 3 MONTH 12 MONTH CUMULATIVE PRICING SPEED(CPR):See Prospectus PREPAYMENT HISTORY(PSA): 28% 0% 0% 19% PREPAYMENT HISTORY(CPR): 0.40% 0.00% 0.00% 0.26% DELINQUENCY (1)

(1) DETERMINED BY THE MBA METHOD. (2) DOES NOT INCLUDE REAL ESTATE OWNED BY THE TRUST. -------------------------------------------------------------------------------

Citicorp Mortgage Securities Trust, Series 2006-1 10-D