Fitch Places 1 Class of J.P. Morgan 2006-FL2 on Rating Watch Negative

Business Wire, Sept 24, 2008

As of the September 2008 remittance, the pool's collateral balance has paid down 42.8% to $858.7 million, from $1.501 billion at issuance. Five loans have paid in full since issuance and 10 loans remain outstanding.

The transaction has a modified pro rata pay structure whereby 80% of principal is paid to classes A-1 and A-2, and the remaining 20% is paid to the other classes pro rata. The transaction switches to sequential pay in the event of default or when the transaction has been reduced by 80% from issuance.

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