Statement to Certificateholder

Distribution Information

Deal Information

1. Distribution Summary

Deal Name:

Residential Accredit Loans Inc, 2006-QO3

2. Factor Summary

Asset Type:

Mortgage Asset-Backed Pass-Through Certificates

3. Components Information

(Not Applicable)

Closing Date:

03/30/2006

4. Interest Summary

First Distribution Date:

04/25/2006

5. Other Income Detail

(Not Applicable)

Determination Date:

06/22/2006

6. Interest Shortfalls, Compensation and Expenses

Distribution Date:

06/26/2006

Record Date:

7. Prepayment Interest and Basis Risk/Net WAC Shortfall Amounts

Book-Entry:

06/23/2006

8. Collateral Summary

Definitive:

05/31/2006

9. Repurchase Information

Trustee:

Deutsche Bank Trust Company Americas

Main Telephone:

714-247-6000

10. Loan Status Report (Delinquencies)

11. Deal Delinquencies (30 Day Buckets)

GMAC-RFC

Bond Administrator:

Rona Hsu

12. Loss Mitigation and Servicing Modifications

Telephone:

818-260-1508

13. Losses and Recoveries

Pool(s) :

40313

14. Credit Enhancement Report

15. Distribution Percentages

16. Overcollateralization Summary

17. Excess Cash Flow, Overcollateralization
Provisions and Derivative Amounts

18. Performance Tests

19. Lender Paid Mortgage Insurance

(Not Applicable)

20. Comments

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 1 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006



	1. Distribution Summary

										Beginning
							Original Face Value				Pass-Through						Principal			Interest		Total Distribution		Principal Loss					Interest		Deferred Interest			Ending Notional/ Principal Balance (1)-(3)-(6)+(8)=(9)
		Class		CUSIP




									(1)				(2)		(3)				(4)				(5)	(6)				(7)				(8)			(9)

A-1				761118WP9	359,391,000.00			359,317,412.16				5.29125000				1,035,896.56		1,689,989.56			2,725,886.12				0.00	0.00				0.00			358,281,515.60


A-2				761118WQ7	149,747,000.00			149,719,248.16				5.34125000				431,634.11		710,833.72			1,142,467.83				0.00	0.00				0.00			149,287,614.05


A-3				761118WR5	89,848,000.00			89,833,793.26				5.41125000				258,986.94		432,100.55			691,087.49				0.00	0.00				0.00			89,574,806.32


M-1				761118WS3	16,576,000.00			16,610,731.77				5.50125000				0.00		81,226.48			81,226.48				0.00	0.00				0.00			16,610,731.77


M-2				761118WT1	8,450,000.00			8,467,738.24				5.51125000				0.00		41,482.51			41,482.51				0.00	0.00				0.00			8,467,738.24


M-3				761118WU8	3,250,000.00			3,256,873.03				5.55125000				0.00		16,070.86			16,070.86				0.00	0.00				0.00			3,256,873.03


M-4				761118WV6	3,250,000.00			3,257,189.51				5.80125000				0.00		16,796.24			16,796.24				0.00	0.00				0.00			3,257,189.51


M-5				761118WW4	3,250,000.00			3,257,265.46				5.86125000				0.00		16,970.35			16,970.35				0.00	0.00				0.00			3,257,265.46


M-6				761118WX2	3,250,000.00			3,257,455.35				6.01125000				0.00		17,405.67			17,405.67				0.00	0.00				0.00			3,257,455.35


M-7				761118WY0	4,550,000.00			4,561,447.67				6.46465047				0.00		26,684.47			26,684.47				0.00	0.00				0.00			4,561,447.67


M-8				761118WZ7	3,250,000.00			3,258,176.91				6.46465047				0.00		19,060.33			19,060.33				0.00	0.00				0.00			3,258,176.91


SB				761118XA1	5,200,926.42			5,200,103.41				0.00000000				0.00		761,599.33			761,599.33				0.00	0.00				0.00			5,200,103.41


R-I				761118XB9	0.00			0.00				0.00000000				0.00		0.00			0.00				0.00	0.00				0.00			0.00


R-II				761118XC7	0.00			0.00				0.00000000				0.00		0.00			0.00				0.00	0.00				0.00			0.00


			Deal Totals			650,012,926.42		649,997,434.93						1,726,517.61				3,830,220.07			5,556,737.68			0.00			0.00			0.00			648,270,917.32

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 2 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006



2. Factor Summary
Amount /Original Amount per $1000 unit)

	Class			CUSIP		Beginning Notional/ Principal Balance Factor	Principal Distribution Factor	Interest Distribution	Total Distribution	Deferred Interest Factor	Interest Shortfall	Ending Notional/ Principal Balance Factor




	A-1			761118WP9	999.79524295		2.88236645	4.70237029	7.58473674	0.00000000	0.00000000	996.91287650

	A-2			761118WQ7	999.81467515		2.88242242	4.74689790	7.62932032	0.00000000	0.00000000	996.93225273

	A-3			761118WR5	999.84188029		2.88250089	4.80923949	7.69174038	0.00000000	0.00000000	996.95937940

	M-1			761118WS3	1,002.09530466		0.00000000	4.90024614	4.90024614	0.00000000	0.00000000	1,002.09530466

	M-2			761118WT1	1,002.09920000		0.00000000	4.90917278	4.90917278	0.00000000	0.00000000	1,002.09920000

	M-3			761118WU8	1,002.11477846		0.00000000	4.94488000	4.94488000	0.00000000	0.00000000	1,002.11477846

	M-4			761118WV6	1,002.21215692		0.00000000	5.16807385	5.16807385	0.00000000	0.00000000	1,002.21215692

	M-5			761118WW4	1,002.23552615		0.00000000	5.22164615	5.22164615	0.00000000	0.00000000	1,002.23552615

	M-6			761118WX2	1,002.29395385		0.00000000	5.35559077	5.35559077	0.00000000	0.00000000	1,002.29395385

	M-7			761118WY0	1,002.51597143		0.00000000	5.86471868	5.86471868	0.00000000	0.00000000	1,002.51597143

	M-8			761118WZ7	1,002.51597231		0.00000000	5.86471692	5.86471692	0.00000000	0.00000000	1,002.51597231

	SB		1	761118XA1

	R-I			761118XB9	0.00000000		0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000

	R-II			761118XC7	0.00000000		0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000

	1	Factors not reported for OC Classes



	Deal Factor :		99.73200393%
	Deal Factor :

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 3 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006



4. Interest Summary
The following section only reports information for classes that have accrued interest for this distribution.

Class		Accrual Period			Accrual Methodology	Beginning Notional/Principal Balance		Pass- Through Rate	Optimal Interest		Interest Loss			Deferred Interest		Interest Shortfall Amount		Other Income		Interest Distribution (1)-(2)-(3)- (4)+(5)=(6)		Accrued Certificate Interest Remaining Unpaid






		Start		End						(1)		(2)			(3)		(4)		(5)		(6)
A-1	05/25/2006		06/25/2006		Actual/360		359,317,412.16	5.29125000	1,689,989.56		0.00		0.00			0.00		0.00		1,689,989.56		0.00	0.00

A-2	05/25/2006		06/25/2006		Actual/360		149,719,248.16	5.34125000	710,833.72		0.00		0.00			0.00		0.00		710,833.72		0.00	0.00

A-3	05/25/2006		06/25/2006		Actual/360		89,833,793.26	5.41125000	432,100.55		0.00		0.00			0.00		0.00		432,100.55		0.00	0.00

M-1	05/25/2006		06/25/2006		Actual/360		16,610,731.77	5.50125000	81,226.48		0.00		0.00			0.00		0.00		81,226.48		0.00	0.00

M-2	05/25/2006		06/25/2006		Actual/360		8,467,738.24	5.51125000	41,482.51		0.00		0.00			0.00		0.00		41,482.51		0.00	0.00

M-3	05/25/2006		06/25/2006		Actual/360		3,256,873.03	5.55125000	16,070.86		0.00		0.00			0.00		0.00		16,070.86		0.00	0.00

M-4	05/25/2006		06/25/2006		Actual/360		3,257,189.51	5.80125000	16,796.24		0.00		0.00			0.00		0.00		16,796.24		0.00	0.00

M-5	05/25/2006		06/25/2006		Actual/360		3,257,265.46	5.86125000	16,970.35		0.00		0.00			0.00		0.00		16,970.35		0.00	0.00

M-6	05/25/2006		06/25/2006		Actual/360		3,257,455.35	6.01125000	17,405.67		0.00		0.00			0.00		0.00		17,405.67		0.00	0.00

M-7	05/25/2006		06/25/2006		Actual/360		4,561,447.67	6.46465047	26,684.47		0.00		0.00			0.00		0.00		26,684.47		0.00	0.00

M-8	05/25/2006		06/25/2006		Actual/360		3,258,176.91	6.46465047	19,060.33		0.00		0.00			0.00		0.00		19,060.33		0.00	0.00

SB	05/01/2006		05/31/2006		Actual/360		5,200,103.41	0.00000000	0.00		0.00		0.00			0.00		761,599.33		761,599.33		0.00	0.00

Deal Totals						649,997,434.93			3,068,620.74		0.00		0.00			0.00		761,599.33		3,830,220.07		0.00



	Current Index Rates

Index Type		Rate		Classes


BTLIB TEL 25 -2BD		5.08125000	A-1, A-2, A-3, M-2, M-4, M-6, M-8, M-7, M-5, M-3, M-1

6. Interest Shortfalls, Compensation and Expenses

Current
Prepayment
Interest Shortfall
Amount

Compensating
Interest

Net Prepayment
Interest Shortfall
Amount
(1) - (2)=(3)

Civil Relief
Act

Compensation

Advances

Allowable
Expenses per

Non-Recoverable

(1)

(2)

(3)

Subservicer

Master

Subservicer

Master

Deal Totals

2,155.70

0.00

203,254.04

26,100.39

25,155.84

0.00

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 4 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006



7. Prepayment Interest and Basis Risk/Net WAC Shortfall Amounts

(A) Prepayment Interest Shortfall Amounts								(B) Basis Risk/Net WAC Shortfall Amounts

Class		Current	Prior Unpaid	Prior Unpaid Accrued Interest	Total Paid	Remaining Unpaid (1)+(2)+(3)-(4)=(5)	Current Period Uncompensated		Prior Unpaid	Prior Unpaid Accrued Interest	Total Paid	Remaining Unpaid (1)+(2)+(3)-(4)=(5)




		(1)	(2)	(3)	(4)	(5)	(1)		(2)	(3)	(4)	(5)

	A-1	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	A-2	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	A-3	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	M-1	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	M-2	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	M-3	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	M-4	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	M-5	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	M-6	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	M-7	0.00	0.00	0.00	0.00	0.00	472.77		0.00	0.00	472.77	0.00

	M-8	0.00	0.00	0.00	0.00	0.00	337.69		0.00	0.00	337.69	0.00

	SB	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	R-I	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

	R-II	0.00	0.00	0.00	0.00	0.00	0.00		0.00	0.00	0.00	0.00

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 5 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006

8. Collateral Summary

A. Loan Count and Balances

Original Loan Count/
Scheduled Principal
Balance

Beginning Loan Count/
Scheduled Principal
Balance

Curtailments

Payoffs

Total Repurchases

Principal Portion
of Losses

Ending Loan Count/
Scheduled Principal
Balance

Count

Balance

Count

Balance

Count

Amount

Count

Amount

Count

Amount

Count

Amount

Count

Balance

Deal Totals

1,897

650,012,926.42

1,890

649,997,434.93

460

201,001.16

3,382,994.95

0.00

1,878

648,270,917.31

B. Weighted Averages

Beginning

Ending

Ending
Weighted
Average
Remaining
Amortization
Term

Ending
Weighted
Average
Months to
Maturity

Beginning
Weighted
Average
Net
Mortgage

Ending
Weighted
Average
Net
Mortgage

Beginning
Weighted
Average
Unmodified
Net
Mortgage

Net
Weighted
Average
Cap Rate

Weighted
Average
Net Rate

Deal Totals

7.32062717

7.45710726

370.95

6.89562716

7.03210726

6.89562716

N/A

C. Constant Prepayment Rate

1 Month CPR

3 Month CPR

6 Month CPR

12 Month CPR

Life CPR

Deal Totals

6.40%

3.40%



9. Repurchases

			Breaches Of Representations			ARM Conversions		Optional Repurchases of Defaulted Loans		Others		Total (1)+(2)+(3)+(4)=(5)
				(1)	(2)		(3)			(4)		(5)

		Count		0		0			0		0		0
	Deal Totals


		Scheduled Balance		0.00		0.00			0.00		0.00		0.00

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 6 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006


10. Loan Status Report
													Delinquency Calculation Method: Mortgage Bankers Association

					Current / Delinquent																	Bankruptcy								Foreclosure							REO																Total
	Deal Totals

		Count								Scheduled Balance					Count				Scheduled Balance				Count				Scheduled Balance					Count			Scheduled Balance			Actual Balance						Count								Scheduled Balance

	Current						1,857				639,711,640.55				0			0.00								0			0.00				0				0.00						0.00						1,857		639,711,640.55

	30 days					20					8,347,585.54				0			0.00								0			0.00				0				0.00						0.00						20		8,347,585.54

	60 days					1					211,691.22				0			0.00								0			0.00				0				0.00						0.00						1		211,691.22

	90 days					0					0.00				0			0.00								0			0.00				0				0.00						0.00						0		0.00

	120 days					0					0.00				0			0.00								0			0.00				0				0.00						0.00						0		0.00

	150 days					0					0.00				0			0.00								0			0.00				0				0.00						0.00						0		0.00

	180 days					0					0.00				0			0.00								0			0.00				0				0.00						0.00						0		0.00

	181+ days					0					0.00				0			0.00								0			0.00				0				0.00						0.00						0		0.00

	Total							1,878			648,270,917.31				0		0.00								0			0.00			0					0.00				0.00						1,878				648,270,917.31


	Current			98.88%								98.68%			0.00%						0.00%				0.00%				0.00%				0.00%		0.00%						0.00%								98.88%		98.68%

	30 days					1.06%					1.29%				0.00%						0.00%				0.00%				0.00%				0.00%		0.00%						0.00%							1.06%			1.29%

	60 days					0.05%					0.03%				0.00%						0.00%				0.00%				0.00%				0.00%		0.00%						0.00%							0.05%			0.03%

	90 days					0.00%					0.00%				0.00%						0.00%				0.00%				0.00%				0.00%		0.00%						0.00%							0.00%			0.00%

	120 days					0.00%					0.00%				0.00%						0.00%				0.00%				0.00%				0.00%		0.00%						0.00%							0.00%			0.00%

	150 days					0.00%					0.00%				0.00%						0.00%				0.00%				0.00%				0.00%		0.00%						0.00%							0.00%			0.00%

	180 days					0.00%					0.00%				0.00%						0.00%				0.00%				0.00%				0.00%		0.00%						0.00%						0.00%				0.00%

	181+ days					0.00%					0.00%				0.00%					0.00%					0.00%				0.00%				0.00%		0.00%							0.00%						0.00%			0.00%

	Total		100.00%						100.00%					0.00%		0.00%								0.00%				0.00%			0.00%			0.00%					0.00%						100.00%					100.00%

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 7 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006



11. Delinquency Data

			Totals				Totals					Totals					Totals					Totals
		Count % Count		Balance % Balance		Count % Count		Balance % Balance			Count % Count		Balance % Balance			Count % Count		Balance % Balance			Count % Count		Balance % Balance

			20	8,347,585.54			0		0.00			0		0.00			0		0.00			0		0.00
	1 Month				13 Months					25 Months					37 Months					49 Months


			1.06%	1.29%			0.00%	0.00%				0.00%		0.00%			0.00%		0.00%			0.00%		0.00%


			1	211,691.22			0		0.00			0		0.00			0		0.00			0		0.00
	2 Months				14 Months					26 Months					38 Months					50 Months


			0.05%	0.03%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%


			0	0.00			0		0.00			0		0.00			0		0.00			0		0.00
	3 Months				15 Months					27 Months					39 Months					51 Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%


			0	0.00			0		0.00			0		0.00			0		0.00			0		0.00
	4 Months				16 Months					28 Months					40 Months					52 Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%


			0	0.00			0		0.00			0		0.00			0		0.00			0		0.00
	5 Months				17 Months					29 Months					41 Months					53 Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%


			0	0.00			0		0.00			0		0.00			0		0.00			0		0.00
	6 Months				18 Months					30 Months					42 Months					54 Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%

			0	0.00			0		0.00			0		0.00			0		0.00			0		0.00
	7 Months				19 Months					31 Months					43 Months					55 Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%

																	0		0.00
			0	0.00			0		0.00			0		0.00								0		0.00

	8 Months				20 Months					32 Months					44 Months					56 Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%


			0	0.00			0		0.00			0		0.00			0		0.00			0		0.00
	9 Months				21 Months					33 Months					45 Months					57 Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%


			0	0.00			0		0.00			0		0.00			0		0.00			0		0.00
	10 Months				22 Months					34 Months					46 Months					58 Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%

														0.00					0.00
			0	0.00			0		0.00			0					0					0		0.00

	11 Months				23 Months					35 Months					47 Months					59 Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%

			0	0.00			0		0.00			0		0.00			0		0.00			0		0.00
	12 Months				24 Months					36 Months					48 Months					60+ Months


			0.00%	0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%			0.00%		0.00%

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 8 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006

12. Loss Mitigation and Servicing Modifications

Current

1 Payment

2 Payments

3+ Payments

Foreclosure

REO

Total

Modification Type

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Capitalizations

0.00

Deal
Totals

Other

0.00

Payoffs

Repurchases

Liquidations

Total

Current Month

Cumulative

Current Month

Cumulative

Current Month

Cumulative

Current Month

Cumulative

Modification Type

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Count

Scheduled
Balance

Deal
Totals

Capitalizations

0.00

Other
Modifications

0.00

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 9 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006

13. Losses and Recoveries

A. Current Cycle Realized Losses

Current Period Realized Losses

Liquidations

Charge-Offs

Servicing Modifications

Bankruptcy Losses

Total

Loss Count

Beginning Aggregate Scheduled Balance

0.00

Deal
Totals

Principal Portion of Loss

0.00

Interest Portion of Loss

0.00

Total Realized Loss

0.00

B. Cumulative Realized Losses

Cumulative Realized Losses

Liquidations

Charge-Offs

Servicing Modifications

Bankruptcy Losses

Total

Deal
Totals

Loss Count

Total Realized Loss

0.00

C. Subsequent Recoveries

Subsequent Recoveries

Current Period

Cumulative

Subsequent Recoveries Count

Subsequent Recoveries

0.00

Deal
Totals

Net Loss 1

0.00

Net Loss % 2

0.00%

1 Total Realized Loss less Subsequent Recoveries

2 Net Loss % of Original Balance

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 10 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006

D. Default Percentages

Default Loss Percentage

1 Month

3 Months

6 Months

12 Months

Life of Deal

Monthly Default Rate

0.00%

Constant Default Rate

0.00%

1-Month MDR (Current Month) = SUM(Beginning Scheduled balances of liquidating loans) / [SUM(Beginning Scheduled loan balances)- SUM(Scheduled Principal payments)]
m-Month = 3, 6, 12, months or the life of deal to date
m-Month MDR(over m months in period where n is current month)= 1-[(1-MDRn-m+1) * (1-MDRn-m+2) *.* (1-MDR n-1) * (1-MDRn)]^(1/m)
CDRm = 1- [(1- MDRm)^12],where m is number of months in period

14. Credit Enhancement Report

Reserve Accounts

DEPOSITS

WITHDRAWALS

Ending
Balance

Description

Source

Beginning
Balance

Investment
Earnings

Other
Deposits

Draws

Releases

Basis Risk Shortfall Reserve

Goldman Sachs & Company

0.00

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 11 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006



15. Distribution Percentages


		Beginning Current Super		Beginning Current	Beginning Current		Beginning Current Senior

		0.00000000%		0.00000000%	92.13427952%	0.00000000%


		Ending Percentage

	M-1		2.56231327%

	M-2		1.30620363%

	M-3		0.50239382%

	M-4		0.50244264%

	M-5		0.50245436%

	M-6		0.50248365%

	M-7		0.70363293%

	M-8		0.50259495%

	Class M Total:		7.08451925%


	SB		0.80214973%

	R-I		0.00000000%

	R-II		0.00000000%

	Class B Total:		0.80214973%



16. Overcollateralization Summary

		Prior Required Overcollateralization Amount	Beginning Overcollateralization Amount	Overcollateralization Increase/(Reduction) Amount		Ending Overcollateralization Amount		Current Required Overcollateralization Amount
	Deal Total
		5,200,103.41	5,200,103.41		0.00		5,200,103.41	5,200,103.41

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 12 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006



17. Excess Cashflow, Overcollateralization and Derivative Amounts

	Excess Cashflow and Derivative Summary

	(1)	Scheduled Unmodified Net Interest	3,735,116.64


	(2)	Interest Losses	0.00


	(3)	Subsequent Recoveries	0.00


	(4)	Interest Adjustment Amount	0.00


	(5)	Certificate Interest Amount	3,067,810.28


	(6)	OC Reduction Amount	0.00


	(7)	Excess Cashflow Prior to OC Provisions	667,306.36


	Overcollateralization and Derivative Amounts

		Excess Cashflow Prior to OC Provisions	667,306.36


	(1)	Unreimbursed Principal Portion of Realized Losses	0.00


	(2)	Principal Portion of Realized Losses	0.00


	(3)	Overcollateralization Increase	0.00


	(4)	Prepayment Interest Shortfall	0.00


	(5)	Unpaid PPIS With Accrued Interest	0.00


	(6)	Basis Risk Shortfall Carry-Forward Amount	810.46


	(7)	Relief Act Shortfall	0.00


	(8)	Unreimbursed Realized Losses	0.00


	(9)	To Class SB Certificates	666,495.90

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 13 of 14

Statement to Certificateholder

Residential Accredit Loans Inc, 2006-QO3

June 26, 2006


18. Performance Tests


	Current Distribution Date >= Target Distribution

		Current Distribution Date >= Target Distribution Date	False

	Stepdown Date - Senior Enhancement Test

		Senior Enhance Pct >= Specified Senior Enhance Pct (Actual End Balance <= Target End Balance)	False

	StepDown Date and Senior Enhancement pass

		After StepDown Date and Senior Enh Percent >= Target Percent	False

	Sixty-Plus Delinquency Percentage >= Target %

		Sixty-Plus Delinquency Percentage >= Senior Enhancement Delinquency Percentage Target	False

	Aggregate Realized Loss % >= Scheduled Loss %

		Aggregate Realized Loss Percentage >= Scheduled Loss Percent	False

	Trigger Event is in effect?

		Trigger Event is in effect	False

	Stepdown Date and Trigger Event in effect

		Trigger Event is in effect on or after StepDown Date	False



20. Comments

	ERISA Text:	Each beneficial owner of any Certificate (or any interest therein) which provides credit enhancement for any other Certificate and is available in book-entry form, including any such

		Class M Certificate, shall be deemed to have represented, by virtue of its acquisition or holding of such Certificate (or interest therein), that either: a) it is not an employee benefit
		or other plan subject to the prohibited transaction provision of the Employee Retirement Income Security Act of 1974, as amended('ERISA'), or Section 4975 of the Internal Revenue
		Code of 1986, as amended (a 'Plan'), or any other person (including an investment manager, a named fiduciary or a trustee of any Plan) acting, directly or indirectly, on behalf of
		purchasing any Certificate with 'plan assets' of any Plan; or b) (i) the transferee is an insurance company, (ii) the source of funds to be used by it to purchase the Certificates is an
		'insurance company general account' (within the meaning of Department of Labor Prohibited Transaction Class Exemption ('PTCE') 95-60), and (iii) the conditions set forth in
		Section I and III of PTCE 95-60 have been satisfied. Any purported beneficial owner of any such book-entry Certificate (or interest therein) to whom either (a) or (b) above does not
		apply shall indemnify and hold harmless the Company, the Trustee, the Master Servicer, any Subservicer, and the Trust Fund from and against any and all liabilities, claim, cost or
		expenses incurred by such parties as a result of its acquisition or holding of such Certificate.

06/28/2006

7:09:29PM

GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors

Page 14 of 14



	Statement To Certificateholder



	Residential Accredit Loans Inc., 2006-QO3

	June 26, 2006



	Cash Flow Received and Uses of Funds


	Cash Flow Received		Amount

	Principal and Interest Payments		5,485,579.04
	Prepayment Premium		95,103.43
	Liquidation and Insurance Proceeds		0.00
	Subsequent Recoveries		0.00
	Repurchase Proceeds		0.00
	Other Deposits/Adjustments (including Derivative Payment)		2,155.70
	Total Deposits		5,582,838.17

	Uses of Funds		Amount

	Transfer to Certificate Account		5,556,737.69
	Reimbursed Advances and Expenses		0.00
	Master Servicing Compensation		26,100.39
	Derivative Payment		N/A
	Total Withdrawals		5,582,838.08

	Ending Balance		0.00



		GMAC-RFC, 2255 North Ontario Street, Suite 400, Burbank, CA 91504, 818.260.1400, www.gmacrfc.com/investors	Appendix A

RALI Series 2006-QO3 Trust 10-D