Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

Distribution Package Includes: *

Issuance Dates

Issuance Parties

Contact

First Distribution Date:

Settlement Date:

Cutoff Date:

Servicer(s):

Certificate Insurer(s):

Underwriter(s):

Name:
Title:
Phone:

Mobile:
Fax:

Email:
Address:

Website:

* The Trustee, at the direction of the Depositor, and based upon information provided in the Mortgage Loan Schedule or by the Servicer, is furnishing this information to each Certificateholder. The Depositor
and/or the Servicer may discontinue the furnishing of this Supplemental Report (other than the Payment Date Statement), or may change its format, at any time and without notice to any Certificateholder.
While the above parties have undertaken efforts to ensure the reasonable accuracy of this information, this information has not been audited and the parties make no representation as to the accuracy or
completeness of the information.

60 Livingston Ave, St. Paul, MN 55107

www.usbank.com

Mike Bengtson
Account Administrator
651-495-3847

michael.bengtson@usbank.com

N/A

Bond Securitization, LLC

Litton Loan Servicing LP

March 25, 2006

February 28, 2006

February 01, 2006

Payment Date Statement

Remittance Summary

Delinquency Summary

Mortgage Loan Characteristics

Delinquency Report

Delinquency History Report - Six Months

CPR/CDR History Report - Six Months

Bankruptcy Loan Detail Report

Foreclosure Loan Detail Report

REO Loan Detail Report

Prepayment & Liquidation Loan Detail Report

Material Modifications, Extentions, Waivers Loan Detail Report

Material Breaches Loan Detail Report

04/21/2006

6:23 pm

C-BASS

Contact:

MORTGAGE LOAN ASSET-BACKED CERTIFICATES

Mike Bengtson

SERIES 2006-CB2

Account Administrator
651-495-3847
michael.bengtson@usbank.com

DISTRIBUTION STATEMENT

Distribution Date:

25-Apr-06

Accrual Periods:

Begin

End

Determination Date:

14-Apr-06

Libor Certificates

3/27/2006

4/24/2006

Record Date Libor Certificates:

24-Apr-06

Fixed Certificates, Class X, Class N

3/1/2006

3/31/2006

Record Date Fixed Certificates:

31-Mar-06

Original

Beginning

Class Interest

Net WAC

Allocable

Ending

Certificate

Principal

Interest

Carryover

Total

Rate Carryover

Loss

Certificate

Class

Face Value

Balance

Distribution

Shortfall

Distribution

Amount

Balance

$347,712,000.00

$343,165,383.32

$10,246,591.04

$1,384,441.35

$0.00

$11,631,032.39

$0.00

$332,918,792.28

AF-1

$217,959,000.00

$216,149,604.84

$7,683,714.10

$1,029,772.74

$0.00

$8,713,486.84

$0.00

$208,465,890.74

AF-2

$120,898,000.00

$0.00

$554,216.58

$0.00

$554,216.58

$0.00

$120,898,000.00

AF-3

$25,627,000.00

$0.00

$125,145.18

$0.00

$125,145.18

$0.00

$25,627,000.00

AF-4

$40,498,000.00

$0.00

$192,500.49

$0.00

$192,500.49

$0.00

$40,498,000.00

M-1

$31,877,000.00

$0.00

$133,224.41

$0.00

$133,224.41

$0.00

$31,877,000.00

M-2

$29,974,000.00

$0.00

$125,512.60

$0.00

$125,512.60

$0.00

$29,974,000.00

M-3

$18,079,000.00

$0.00

$75,994.96

$0.00

$75,994.96

$0.00

$18,079,000.00

M-4

$16,652,000.00

$0.00

$71,472.13

$0.00

$71,472.13

$0.00

$16,652,000.00

M-5

$15,700,000.00

$0.00

$67,512.52

$0.00

$67,512.52

$0.00

$15,700,000.00

M-6

$14,749,000.00

$0.00

$64,373.56

$0.00

$64,373.56

$0.00

$14,749,000.00

M-7

$13,797,000.00

$0.00

$66,109.00

$0.00

$66,109.00

$0.00

$13,797,000.00

B-1

$15,700,000.00

$0.00

$78,500.00

$0.00

$78,500.00

$0.00

$15,700,000.00

B-2

$9,991,000.00

$0.00

$49,955.00

$0.00

$49,955.00

$0.00

$9,991,000.00

B-3

$8,564,000.00

$0.00

$42,820.00

$0.00

$42,820.00

$0.00

$8,564,000.00

B-4

$9,515,000.00

$0.00

$47,575.00

$0.00

$47,575.00

$0.00

$9,515,000.00

$14,280,898.15

$0.00

$1,181,466.89

$0.00

$1,181,466.89

$0.00

N/A

$14,280,898.15

N/A

$0.00

$369,907.73

$0.00

$369,907.73

$0.00

N/A

$0.00

$100.00

$0.00

R-X

N/A

$0.00

N/A

$0.00

Total

$937,292,100.00

$930,935,988.16

$17,930,305.14

$5,660,500.14

$0.00

$23,590,805.28

$0.00

$913,005,683.02

* Notional Balance

AMOUNTS PER $1,000 UNIT

Class Interest

Net WAC

Allocable

Ending

Current

Principal

Interest

Carryover

Total

Rate Carryover

Loss

Certificate

Pass Through

Class

Cusip

Distribution

Amount

Distribution

Amount

Balance

Interest Rate

12498NAW3

$29.46861495

$3.98157484

$33.45018978

$0.00000000

$957.45557323

5.00813%

AF-1

12498NAA1

$35.25302511

$4.72461674

$39.97764185

$0.00000000

$956.44543579

5.71700%

AF-2

12498NAB9

$0.00000000

$4.58416665

$0.00000000

$1,000.00000000

5.50100%

AF-3

12498NAC7

$0.00000000

$4.88333320

$0.00000000

$1,000.00000000

5.86000%

AF-4

12498NAD5

$0.00000000

$4.75333325

$0.00000000

$1,000.00000000

5.70400%

M-1

12498NAE3

$0.00000000

$4.17932710

$0.00000000

$1,000.00000000

5.18813%

M-2

12498NAF0

$0.00000000

$4.18738240

$0.00000000

$1,000.00000000

5.19813%

M-3

12498NAG8

$0.00000000

$4.20349356

$0.00000000

$1,000.00000000

5.21813%

M-4

12498NAH6

$0.00000000

$4.29210485

$0.00000000

$1,000.00000000

5.32813%

M-5

12498NAJ2

$0.00000000

$4.30016051

$0.00000000

$1,000.00000000

5.33813%

M-6

12498NAK9

$0.00000000

$4.36460506

$0.00000000

$1,000.00000000

5.41813%

M-7

12498NAL7

$0.00000000

$4.79154889

$0.00000000

$1,000.00000000

5.94813%

B-1

12498NAM5

$0.00000000

$5.00000000

$0.00000000

$1,000.00000000

6.00000%

B-2

12498NAN3

$0.00000000

$5.00000000

$0.00000000

$1,000.00000000

6.00000%

B-3

12498NAP8

$0.00000000

$5.00000000

$0.00000000

$1,000.00000000

6.00000%

B-4

12498NAQ6

$0.00000000

$5.00000000

$0.00000000

$1,000.00000000

6.00000%

$0.00000000

$82.73057322

$0.00000000

$1,000.00000000

$0.00000000

R-X

$0.00000000

Index

Value

LIBOR

4.81813%

Page 1

C-BASS

Contact:

MORTGAGE LOAN ASSET-BACKED CERTIFICATES

Mike Bengtson

SERIES 2006-CB2

Account Administrator

651-495-3847
michael.bengtson@usbank.com

Distribution Date:

April 25, 2006

DISTRIBUTION STATEMENT

Pooling and Servicing Agreement Dated February 1, 2006

Index +

Interest

Allocation of

Deferred

Total

Cumulative

Margin or

Accrued @

Net PPIS &

Basis Risk

Amount

Interest

Class

Fixed Rate

PT Rate (1)

Relief Act

Paid

Unpaid

Paid

Paid (2)

Shortfall

5.00813%

$1,384,441.35

$0.00

$1,384,441.35

$0.00

AF-1

5.71700%

$1,029,772.74

$0.00

$1,029,772.74

$0.00

AF-2

5.50100%

$554,216.58

$0.00

$554,216.58

$0.00

AF-3

5.86000%

$125,145.18

$0.00

$125,145.18

$0.00

AF-4

5.70400%

$192,500.49

$0.00

$192,500.49

$0.00

M-1

5.18813%

$133,224.41

$0.00

$133,224.41

$0.00

M-2

5.19813%

$125,512.60

$0.00

$125,512.60

$0.00

M-3

5.21813%

$75,994.96

$0.00

$75,994.96

$0.00

M-4

5.32813%

$71,472.13

$0.00

$71,472.13

$0.00

M-5

5.33813%

$67,512.52

$0.00

$67,512.52

$0.00

M-6

5.41813%

$64,373.56

$0.00

$64,373.56

$0.00

M-7

5.94813%

$66,109.00

$0.00

$66,109.00

$0.00

B-1

6.00000%

$78,500.00

$0.00

$78,500.00

$0.00

B-2

6.00000%

$49,955.00

$0.00

$49,955.00

$0.00

B-3

6.00000%

$42,820.00

$0.00

$42,820.00

$0.00

B-4

6.00000%

$47,575.00

$0.00

$47,575.00

$0.00

(1) Includes interest shortfalls from previous payment dates plus interest thereon

(2) Includes Deferred Amounts

Page 2

C-BASS

Contact:

MORTGAGE LOAN ASSET-BACKED CERTIFICATES

Mike Bengtson

SERIES 2006-CB2

Account Administrator

651-495-3847
michael.bengtson@usbank.com

Distribution Date:

April 25, 2006

DISTRIBUTION STATEMENT

Pooling and Servicing Agreement Dated February 1, 2006

Excess Reserve Fund Account:

Reconciliation:

Basis Risk Reserve Fund Beginning Balance

$5,000.00

Available funds (A):

Required Reserve Fund Balance

$5,000.00

Servicer Remittance

23,592,363.69

Deposit

$16.95

Funds from Group I Senior Payment Cap

0.00

Withdrawal

$16.95

Funds from Mezzanine/Class B Payment Cap

0.00

Basis Risk Reserve Fund Ending Balance

$5,000.00

Net Funds from Excess Reserve Fund

$16.95

23,592,380.64

Distributions (B):

Miscellaneous:

Trustee Fee

$1,575.36

Recoveries

$0.00

Total Interest distributed

$5,660,500.14

Advances

$381,295.17

Total Principal distributed

$17,930,305.14
$23,592,380.64

(A)-(B):

(0.00)

ACCOUNT ACTIVITY

Page 3

C-BASS

Contact:

MORTGAGE LOAN ASSET-BACKED CERTIFICATES

Mike Bengtson

SERIES 2006-CB2

Account Administrator

651-495-3847
michael.bengtson@usbank.com

Distribution Date:

April 25, 2006

DISTRIBUTION STATEMENT

Pooling and Servicing Agreement Dated February 1, 2006

Trigger Event:

Excess Interest Distributions:

Relevant Information:

Excess available interest (A):

$1,181,466.89

A) Rolling 6-Month Delinquency Average

0.162%

B) Ending Collateral Balance

927,286,581.02

1) as additional principal to certificates

$0.00

C) 38.5% of prior period Senior Enhancement %

8.257%

2) Deferred Amounts + Interest thereon (not applied as prin)

$0.00

D) Cumulative Loss Amount

$0.00

3) Required Basis Risk Reserve Deposit to BRRF

$0.00

E) Cumulative Realized Losses/Cut-off Balance

0.000%

4) Remaining Amounts to CE

$1,181,466.89

F) Applicable Cumulative Loss %

100.000%

(B):

$1,181,466.89

A Trigger Event will occur if either (1) or (2) is True:
(1) Rolling 6Mo Delq. Avg equals or exceeds 38.5% of prior Senior Enhancement %(A >= C)

(A)-(B)

($0.00)

(2) Cumulative Real Loss/Cut-Off Balance equals or exceeds Applicable Cumulative Loss %(D >= E)

NO
NO

Overcollateralization:
Overcollateralization Amount (before distributions)

$14,280,898.00

Overcollateralization Release Amount

$0.00

Overcollateralization Deficiency

$0.00

Target Overcollateralization Amount

$14,280,798.00

Overcollateralization Amount (after distributions)

$14,280,898.15

Stepdown Date:
Relevant Information:
Senior Enhancement Percentage

21.447404%

The earlier of:
1) Distribution after Class A balances reduced to zero

1) later of (x) Distribution in March 2009

(y) Date when Senior Enhancement % >=41.8%

NO
NO

CREDIT ENHANCEMENT AND TRIGGERS

Page 4

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

Group 1

Group 2

POOL BALANCE INFORMATION:

Beginning Balance

Less: Principal Remittance
Plus: Negative Amortization
Plus: Draws (If Applicable)
Less: Net Realized Losses

Ending Balance

BLANK

PRINCIPAL REMITTANCE:

Scheduled Principal
Prepayments
Curtailments
Net Liquidation Proceeds
Repurchase Principal
Total Principal Remittance (A)

BLANK

INTEREST REMITTANCE:

Gross Interest

Less: Total Retained Fees
Less: Deferred Interest
Less: Relief Act Interest Shortfall
Less: Net Prepayment Interest Shortfall
Less: Net Nonrecoverable Advances
Less: Interest Loss

Net Interest Remittance From Servicer(s) (B)

BLANK

Prepayment Premiums (C)
Other Funds (D)

BLANK

REMITTANCE TO TRUST A+B+C+D):

BLANK

NON-RETAINED FEES:

Excess Servicing Fee

BLANK

RETAINED FEES:

Servicing Fee
LPMI
Special Servicing Fee
Additional Master Servicing Fee
Backup Servicing Fee
Supplemental Insurance Fee

945,216,886.31

17,930,305.14

0.00
0.00
0.00

927,286,581.17

377,417.27

17,469,215.25

83,672.62

0.00
0.00

17,930,305.14

5,685,991.40

393,840.58

0.00
0.00
0.00
0.00
0.00

5,292,150.82

369,907.73

0.00

23,592,363.69

0.00

393,840.58

0.00
0.00
0.00
0.00
0.00

435,039,404.67

10,246,591.04

0.00
0.00
0.00

424,792,813.63

194,402.08

9,983,689.40

68,499.56

0.00
0.00

10,246,591.04

2,627,820.25

181,266.57

0.00
0.00
0.00
0.00
0.00

2,446,553.68

206,277.91

0.00

12,899,422.63

0.00

181,266.57

0.00
0.00
0.00
0.00
0.00

510,177,481.64

7,683,714.10

0.00
0.00
0.00

502,493,767.54

183,015.19

7,485,525.85

15,173.06

0.00
0.00

7,683,714.10

3,058,171.15

212,574.01

0.00
0.00
0.00
0.00
0.00

2,845,597.14

163,629.82

0.00

10,692,941.06

0.00

212,574.01

0.00
0.00
0.00
0.00
0.00

GROUP:

REMITTANCE SUMMARY

04/21/2006

6:23 pm

Page S1

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

Group 1

Group 2

OTHER INFORMATION:

Beginning Loan Count
Ending Loan Count
Ending Pool Factor

BLANK

Weighted Average Coupon
Weighted Average Net Coupon
Weighted Average Maximum Net Coupon

BLANK

Liquidated Loans - Balance
Negative Amortization - Count
Negative Amortization - Balance
Substitution In Loans
Substitution Out Loans
Substitution Adjustment - Principal
Loans w/PPP - Balance
Loans w/PPP - Count
Repurchase Loans - Count
Recoveries

4,244
4,165

0.9806127644

7.21865%
6.71865%

12.38925%

0.00

0.00
0.00
0.00
0.00

12,916,705.04

0.00

2,119
2,073

0.9759900000

7.24850%
6.74850%

12.34121%

0.00

0.00
0.00
0.00
0.00

7,594,261.96

0.00

2,125
2,092

0.9845550000

7.19319%
6.69319%

12.43021%

0.00

0.00
0.00
0.00
0.00

5,322,443.08

0.00

GROUP:

04/21/2006

6:23 pm

Page S2

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

POOL BALANCE INFORMATION:

Beginning Balance

Less: Principal Remittance
Plus: Negative Amortization
Plus: Draws (If Applicable)
Less: Net Realized Losses

Ending Balance

BLANK

PRINCIPAL REMITTANCE:

Scheduled Principal
Prepayments
Curtailments
Net Liquidation Proceeds
Repurchase Principal
Total Principal Remittance (A)

BLANK

INTEREST REMITTANCE:

Gross Interest

Less: Total Retained Fees
Less: Deferred Interest
Less: Relief Act Interest Shortfall
Less: Net Prepayment Interest Shortfall
Less: Net Nonrecoverable Advances
Less: Interest Loss

Net Interest Remittance From Servicer(s) (B)

BLANK

Prepayment Premiums (C)
Other Funds (D)

BLANK

REMITTANCE TO TRUST A+B+C+D):

BLANK

NON-RETAINED FEES:

Excess Servicing Fee

BLANK

RETAINED FEES:

Servicing Fee
LPMI
Special Servicing Fee
Additional Master Servicing Fee
Backup Servicing Fee
Supplemental Insurance Fee

945,216,886.31

17,930,305.14

0.00
0.00
0.00

927,286,581.17

377,417.27

17,469,215.25

83,672.62

0.00
0.00

17,930,305.14

5,685,991.40

393,840.58

0.00
0.00
0.00
0.00
0.00

5,292,150.82

369,907.73

0.00

23,592,363.69

0.00

393,840.58

0.00
0.00
0.00
0.00
0.00

945,216,886.31

17,930,305.14

0.00
0.00
0.00

927,286,581.17

377,417.27

17,469,215.25

83,672.62

0.00
0.00

17,930,305.14

5,685,991.40

393,840.58

0.00
0.00
0.00
0.00
0.00

5,292,150.82

369,907.73

0.00

23,592,363.69

0.00

393,840.58

0.00
0.00
0.00
0.00
0.00

SERVICER:

04/21/2006

6:23 pm

Page S3

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

OTHER INFORMATION:

Beginning Loan Count
Ending Loan Count
Ending Pool Factor

BLANK

Weighted Average Coupon
Weighted Average Net Coupon
Weighted Average Maximum Net Coupon

BLANK

4,244
4,165

0.9806127644

7.21865%
6.71865%

12.38925%

0.00

0.00
0.00
0.00
0.00

12,916,705.04

0.00

4,244
4,165

0.9806127644

7.21865%
6.71865%

12.38925%

0.00

0.00
0.00
0.00
0.00

12,916,705.04

0.00

SERVICER:

04/21/2006

6:23 pm

Page S4

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

Total

Group 1

Group 2

Total

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

4,104

913,097,462.38
913,405,457.77

11,724,624.76
11,736,938.24

1,850,351.85
1,854,159.49

614,142.18
615,000.00

0.00
0.00

2,053

420,424,294.65
420,583,879.13

2,918,904.35
2,922,239.64

835,472.45
838,153.93

614,142.18
615,000.00

0.00
0.00

2,051

492,673,167.73
492,821,578.64

8,805,720.41
8,814,698.60

1,014,879.40
1,016,005.56

0.00
0.00

Delinquent

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

4,104

913,097,462.38
913,405,457.77

11,724,624.76
11,736,938.24

1,850,351.85
1,854,159.49

614,142.18
615,000.00

0.00
0.00

2,053

420,424,294.65
420,583,879.13

2,918,904.35
2,922,239.64

835,472.45
838,153.93

614,142.18
615,000.00

0.00
0.00

2,051

492,673,167.73
492,821,578.64

8,805,720.41
8,814,698.60

1,014,879.40
1,016,005.56

0.00
0.00

Bankruptcy

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

0.00
0.00

GROUP:

DELINQUENCY SUMMARY

04/21/2006

6:23 pm

Page S5

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

Total

Group 1

Group 2

Foreclosure

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

0.00
0.00

REO

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

0.00
0.00

04/21/2006

6:23 pm

Page S6

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

Total

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

4,104

913,097,462.38
913,405,457.77

11,724,624.76
11,736,938.24

1,850,351.85
1,854,159.49

614,142.18
615,000.00

0.00
0.00

Delinquent

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

4,104

913,097,462.38
913,405,457.77

11,724,624.76
11,736,938.24

1,850,351.85
1,854,159.49

614,142.18
615,000.00

0.00
0.00

Bankruptcy

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

0.00
0.00

SERVICER:

04/21/2006

6:23 pm

Page S7

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

Foreclosure

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

0.00
0.00

REO

Current: Count

Sched Balance
Actual Balance

30-59 Days: Count

Sched Balance
Actual Balance

60-89 Days: Count

Sched Balance
Actual Balance

90-119 Days: Count

Sched Balance
Actual Balance

120+ Days: Count

Sched Balance
Actual Balance

0.00
0.00

04/21/2006

6:23 pm

Page S8

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

Group 1

Group 2

Count

Balance

Count

Balance

Count

Balance

0K to 99.99K

502

32,365,871.24

3.49%

176

13,572,462.12

3.20%

326

18,793,409.12

3.74%

100K to 199.99K

1,509

232,163,353.70

25.04%

949

145,882,584.61

34.34%

560

86,280,769.09

17.17%

200K to 299.99K

1,250

308,851,049.42

33.31%

643

158,751,113.23

37.37%

607

150,099,936.19

29.87%

300K to 399.99K

612

208,250,502.17

22.46%

273

92,577,805.42

21.79%

339

115,672,696.75

23.02%

400K to 499.99K

188

83,257,914.09

8.98%

11,346,306.87

2.67%

161

71,911,607.22

14.31%

500K to 599.99K

35,669,497.09

3.85%

2,662,541.38

0.63%

33,006,955.71

6.57%

600K to 699.99K

16,156,674.67

1.74%

0.00

0.00%

16,156,674.67

3.22%

700K to 799.99K

6,820,118.79

0.74%

0.00

0.00%

6,820,118.79

1.36%

800K to 899.99K

1,600,000.00

0.17%

0.00

0.00%

1,600,000.00

0.32%

900K to 999.99K

981,600.00

0.11%

0.00

0.00%

981,600.00

0.20%

1100K to 1199.99K

1,170,000.00

0.13%

0.00

0.00%

1,170,000.00

0.23%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

MORTGAGE LOAN CHARACTERISTICS

Remaining Principal Balance

Balance

0.00M

20.00M

40.00M

60.00M

80.00M

100.00M

120.00M

140.00M

160.00M

Group 1

Group 2

0K to 99.99K

100K to 199.99K

200K to 299.99K

300K to 399.99K

400K to 499.99K

500K to 599.99K

600K to 699.99K

700K to 799.99K

800K to 899.99K

900K to 999.99K

1100K to 1199.99K

Balance

04/21/2006

6:23 pm

Page S9

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

4.50% - 4.99%

622,802.28

0.07%

0.00

0.00%

622,802.28

0.12%

5.00% - 5.49%

6,714,374.51

0.72%

1,409,839.70

0.33%

5,304,534.81

1.06%

5.50% - 5.99%

197

56,841,549.83

6.13%

108

26,257,712.39

6.18%

30,583,837.44

6.09%

6.00% - 6.49%

504

131,981,094.87

14.23%

235

50,772,264.40

11.95%

269

81,208,830.47

16.16%

6.50% - 6.99%

993

249,393,248.48

26.89%

525

111,629,170.64

26.28%

468

137,764,077.84

27.42%

7.00% - 7.49%

717

160,134,602.19

17.27%

382

78,261,379.48

18.42%

335

81,873,222.71

16.29%

7.50% - 7.99%

789

171,361,761.19

18.48%

418

83,420,074.83

19.64%

371

87,941,686.36

17.50%

8.00% - 8.49%

333

62,030,899.76

6.69%

185

34,236,411.95

8.06%

148

27,794,487.81

5.53%

8.50% - 8.99%

288

52,863,112.14

5.70%

133

25,084,377.19

5.91%

155

27,778,734.95

5.53%

9.00% - 9.49%

16,924,113.16

1.83%

8,560,748.36

2.02%

8,363,364.80

1.66%

9.50% - 9.99%

10,380,152.06

1.12%

3,741,695.18

0.88%

6,638,456.88

1.32%

10.00% - 10.49%

3,197,911.30

0.34%

894,406.95

0.21%

2,303,504.35

0.46%

10.50% - 10.99%

2,816,406.04

0.30%

444,489.44

0.10%

2,371,916.60

0.47%

11.00% - 11.49%

989,659.49

0.11%

80,243.12

0.02%

909,416.37

0.18%

11.50% - 11.99%

563,157.41

0.06%

0.00

0.00%

563,157.41

0.11%

12.00% - 12.49%

356,494.32

0.04%

0.00

0.00%

356,494.32

0.07%

12.50% - 12.99%

65,051.83

0.01%

0.00

0.00%

65,051.83

0.01%

13.50% - 13.99%

50,190.31

0.01%

0.00

0.00%

50,190.31

0.01%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

Gross Rate

Group 1 Weighted Average Rate: 7.25%
Group 2 Weighted Average Rate: 7.19%

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

0.00% - 0.99%

117,771.91

0.01%

117,771.91

0.03%

0.00

0.00%

1.00% - 1.99%

442,549.10

0.06%

0.00

0.00%

442,549.10

0.10%

2.00% - 2.99%

52,385.65

0.01%

0.00

0.00%

52,385.65

0.01%

3.00% - 3.99%

12,393,840.99

1.56%

5,825,589.08

1.63%

6,568,251.91

1.51%

4.00% - 4.99%

111

31,174,871.74

3.93%

11,719,509.72

3.27%

19,455,362.02

4.47%

5.00% - 5.99%

1,392

352,927,964.78

44.52%

788

174,832,076.98

48.85%

604

178,095,887.80

40.96%

6.00% - 6.99%

1,465

346,755,615.15

43.74%

687

140,494,596.16

39.25%

778

206,261,018.99

47.44%

7.00% - 7.99%

213

42,453,232.00

5.36%

112

21,909,382.32

6.12%

101

20,543,849.68

4.73%

8.00% - 8.99%

5,829,186.72

0.74%

2,982,441.54

0.83%

2,846,745.18

0.65%

9.00% - 9.99%

533,115.85

0.07%

50,503.14

0.01%

482,612.71

0.11%

10.00% - 10.99%

28,147.28

0.00%

0.00

0.00%

28,147.28

0.01%

Total

3,280

792,708,681.17

100.00%

1,681

357,931,870.85

100.00%

1,599

434,776,810.32

100.00%

Gross Margins

Margin

Group 1 Weighted Average Margin: 5.99%
Group 2 Weighted Average Margin: 5.96%

04/21/2006

6:23 pm

Page S10

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

0.00% - 0.99%

452

108,969,294.73

13.75%

249

49,314,073.72

13.78%

203

59,655,221.01

13.72%

4.00% - 4.99%

570,416.63

0.07%

0.00

0.00%

570,416.63

0.13%

5.00% - 5.99%

173

51,586,946.75

6.51%

22,086,357.28

6.17%

29,500,589.47

6.79%

6.00% - 6.99%

985

267,424,124.25

33.74%

471

105,680,210.17

29.53%

514

161,743,914.08

37.20%

7.00% - 7.99%

1,097

255,078,808.00

32.18%

580

124,663,292.25

34.83%

517

130,415,515.75

30.00%

8.00% - 8.99%

446

87,036,096.87

10.98%

233

45,460,978.11

12.70%

213

41,575,118.76

9.56%

9.00% - 9.99%

101

19,295,384.23

2.43%

9,338,199.38

2.61%

9,957,184.85

2.29%

10.00% - 10.99%

2,639,219.31

0.33%

1,308,516.82

0.37%

1,330,702.49

0.31%

11.00% - 11.99%

108,390.40

0.01%

80,243.12

0.02%

28,147.28

0.01%

Total

3,280

792,708,681.17

100.00%

1,681

357,931,870.85

100.00%

1,599

434,776,810.32

100.00%

Lifetime Rate Floors

Floor

Group 1 Weighted Average Lifetime Rate Floor: 6.29%
Group 2 Weighted Average Lifetime Rate Floor: 6.17%

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

10.00% - 10.99%

1,065,351.38

0.13%

0.00

0.00%

1,065,351.38

0.25%

11.00% - 11.99%

19,174,558.12

2.42%

8,269,079.99

2.31%

10,905,478.13

2.51%

12.00% - 12.99%

597

158,429,129.81

19.99%

301

67,094,450.81

18.75%

296

91,334,679.00

21.01%

13.00% - 13.99%

1,196

303,228,128.03

38.25%

611

129,851,392.61

36.28%

585

173,376,735.42

39.88%

14.00% - 14.99%

983

227,931,126.04

28.75%

497

107,451,309.84

30.02%

486

120,479,816.20

27.71%

15.00% - 15.99%

350

67,761,554.94

8.55%

196

38,361,062.31

10.72%

154

29,400,492.63

6.76%

16.00% - 16.99%

13,030,494.64

1.64%

5,681,126.14

1.59%

7,349,368.50

1.69%

17.00% - 17.99%

1,979,947.81

0.25%

1,143,206.03

0.32%

836,741.78

0.19%

18.00% - 18.99%

108,390.40

0.01%

80,243.12

0.02%

28,147.28

0.01%

Total

3,280

792,708,681.17

100.00%

1,681

357,931,870.85

100.00%

1,599

434,776,810.32

100.00%

Lifetime Rate Ceiling

Ceiling

Group 1 Weighted Average Lifetime Rate Ceiling: 13.90%
Group 2 Weighted Average Lifetime Rate Ceiling: 13.76%

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

3,265

790,147,340.51

99.68%

1,671

356,273,544.28

99.54%

1,594

433,873,796.23

99.79%

2,561,340.66

0.32%

1,658,326.57

0.46%

903,014.09

0.21%

Total

3,280

792,708,681.17

100.00%

1,681

357,931,870.85

100.00%

1,599

434,776,810.32

100.00%

Frequency of Interest Rate Adjustments

Months

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

3,265

790,147,340.51

99.68%

1,671

356,273,544.28

99.54%

1,594

433,873,796.23

99.79%

2,561,340.66

0.32%

1,658,326.57

0.46%

903,014.09

0.21%

Total

3,280

792,708,681.17

100.00%

1,681

357,931,870.85

100.00%

1,599

434,776,810.32

100.00%

Frequency of Payment Adjustments

Months

04/21/2006

6:23 pm

Page S11

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

1 Year Treasury or CM

52,385.65

0.01%

0.00

0.00%

52,385.65

0.01%

6 Month LIBOR

3,279

792,656,295.52

99.99%

1,681

357,931,870.85

100.00%

1,598

434,724,424.67

99.99%

Total

3,280

792,708,681.17

100.00%

1,681

357,931,870.85

100.00%

1,599

434,776,810.32

100.00%

Indices

Index

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

308,901.78

0.03%

308,901.78

0.07%

0.00

0.00%

2 Units

167

44,416,224.74

4.79%

23,139,589.54

5.45%

21,276,635.20

4.23%

3 Units

10,308,708.82

1.11%

6,007,877.77

1.41%

4,300,831.05

0.86%

4 Units

7,185,245.35

0.77%

5,105,623.36

1.20%

2,079,621.99

0.41%

Condominium

277

52,362,191.75

5.65%

136

23,801,352.75

5.60%

141

28,560,839.00

5.68%

High Rise Condo

659,429.36

0.07%

474,429.36

0.11%

185,000.00

0.04%

Low Rise Condo

8,942,861.19

0.96%

5,532,080.92

1.30%

3,410,780.27

0.68%

Manufactured Housing

1,003,966.55

0.11%

0.00

0.00%

1,003,966.55

0.20%

Planned Unit Development

565

135,053,598.80

14.56%

250

53,861,295.89

12.68%

315

81,192,302.91

16.16%

Single Family

3,033

667,045,452.83

71.94%

1,523

306,561,662.26

72.17%

1,510

360,483,790.57

71.74%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

Property Type

Type

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

1995

47,885.60

0.01%

0.00

0.00%

47,885.60

0.01%

2003

1,356,336.89

0.15%

0.00

0.00%

1,356,336.89

0.27%

2004

1,388,890.68

0.15%

0.00

0.00%

1,388,890.68

0.28%

2005

3,046

687,313,602.90

74.12%

1,554

323,489,734.36

76.15%

1,492

363,823,868.54

72.40%

2006

1,087

237,179,865.10

25.58%

519

101,303,079.27

23.85%

568

135,876,785.83

27.04%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

Year of First Payment Date

Year

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

0.0 - 9.9

114,597.77

0.01%

64,740.17

0.02%

49,857.60

0.01%

10.0 - 19.9

1,546,298.52

0.17%

738,232.55

0.17%

808,065.97

0.16%

20.0 - 29.9

199

11,758,621.65

1.27%

1,857,548.44

0.44%

182

9,901,073.21

1.97%

30.0 - 39.9

9,993,179.54

1.08%

6,618,781.40

1.56%

3,374,398.14

0.67%

40.0 - 49.9

146

24,914,739.87

2.69%

12,366,337.91

2.91%

12,548,401.96

2.50%

50.0 - 59.9

281

53,504,998.64

5.77%

173

32,247,752.91

7.59%

108

21,257,245.73

4.23%

60.0 - 69.9

444

102,482,935.78

11.05%

242

52,003,638.37

12.24%

202

50,479,297.41

10.05%

70.0 - 79.9

570

137,680,979.33

14.85%

298

63,428,259.51

14.93%

272

74,252,719.82

14.78%

80.0 - 89.9

1,709

429,154,196.91

46.28%

766

160,262,230.08

37.73%

943

268,891,966.83

53.51%

90.0 - 99.9

674

149,167,646.33

16.09%

428

91,018,904.13

21.43%

246

58,148,742.20

11.57%

100.0 - 100.0

6,968,386.83

0.75%

4,186,388.16

0.99%

2,781,998.67

0.55%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

Original LTV

LTV

Group 1 Weighted Average LTV: 77
Group 2 Weighted Average LTV: 76

04/21/2006

6:23 pm

Page S12

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

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Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

49 - 72

53,968.13

0.01%

0.00

0.00%

53,968.13

0.01%

73 - 96

27,499.46

0.00%

0.00

0.00%

27,499.46

0.01%

97 - 120

347,822.98

0.04%

185,712.92

0.04%

162,110.06

0.03%

121 - 144

25,632.98

0.00%

0.00

0.00%

25,632.98

0.01%

145 - 168

385,690.00

0.04%

0.00

0.00%

385,690.00

0.08%

169 - 192

5,346,530.92

0.58%

3,744,063.89

0.88%

1,602,467.03

0.32%

193 - 216

99,212.98

0.01%

0.00

0.00%

99,212.98

0.02%

217 - 240

3,328,841.82

0.36%

1,451,779.83

0.34%

1,877,061.99

0.37%

241 - 264

337,499.18

0.04%

0.00

0.00%

337,499.18

0.07%

265 - 288

361,233.23

0.04%

0.00

0.00%

361,233.23

0.07%

289 - 312

245,223.58

0.03%

104,945.13

0.02%

140,278.45

0.03%

313 - 336

1,572,974.81

0.17%

0.00

0.00%

1,572,974.81

0.31%

337 - 360

3,196

702,959,592.99

75.81%

1,603

322,472,691.55

75.91%

1,593

380,486,901.44

75.72%

361 - 384

53,577.74

0.01%

0.00

0.00%

53,577.74

0.01%

433 - 456

52,385.65

0.01%

0.00

0.00%

52,385.65

0.01%

457 - 480

842

212,088,894.72

22.87%

420

96,833,620.31

22.80%

422

115,255,274.41

22.94%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

Remaining Amortization Term

Month

Group 1 Weighted Average Remaining Amortization Months: 380
Group 2 Weighted Average Remaining Amortization Months: 381

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

0 - 24

51,098.83

0.01%

0.00

0.00%

51,098.83

0.01%

25 - 48

103,083.07

0.01%

0.00

0.00%

103,083.07

0.02%

49 - 72

53,968.13

0.01%

0.00

0.00%

53,968.13

0.01%

73 - 96

231,374.92

0.02%

0.00

0.00%

231,374.92

0.05%

97 - 120

347,822.98

0.04%

185,712.92

0.04%

162,110.06

0.03%

121 - 144

25,632.98

0.00%

0.00

0.00%

25,632.98

0.01%

145 - 168

385,690.00

0.04%

0.00

0.00%

385,690.00

0.08%

169 - 192

222

13,570,140.48

1.46%

3,744,063.89

0.88%

186

9,826,076.59

1.96%

193 - 216

99,212.98

0.01%

0.00

0.00%

99,212.98

0.02%

217 - 240

3,277,742.99

0.35%

1,451,779.83

0.34%

1,825,963.16

0.36%

241 - 264

337,499.18

0.04%

0.00

0.00%

337,499.18

0.07%

265 - 288

361,233.23

0.04%

0.00

0.00%

361,233.23

0.07%

289 - 312

245,223.58

0.03%

104,945.13

0.02%

140,278.45

0.03%

313 - 336

1,369,099.35

0.15%

0.00

0.00%

1,369,099.35

0.27%

337 - 360

3,821

896,313,830.50

96.66%

1,998

414,450,091.44

97.57%

1,823

481,863,739.06

95.89%

361 - 384

53,577.74

0.01%

0.00

0.00%

53,577.74

0.01%

433 - 456

52,385.65

0.01%

0.00

0.00%

52,385.65

0.01%

457 - 480

10,407,964.58

1.12%

4,856,220.42

1.14%

5,551,744.16

1.10%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

Remaining Term to Maturity

Month

Group 1 Weighted Average Remaining Months: 354
Group 2 Weighted Average Remaining Months: 351

04/21/2006

6:23 pm

Page S13

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

73 - 96

17,926.42

0.00%

0.00

0.00%

17,926.42

0.00%

97 - 120

370,727.89

0.04%

185,712.92

0.04%

185,014.97

0.04%

121 - 144

66,269.24

0.01%

0.00

0.00%

66,269.24

0.01%

169 - 192

5,732,220.92

0.62%

3,744,063.89

0.88%

1,988,157.03

0.40%

217 - 240

3,428,054.80

0.37%

1,451,779.83

0.34%

1,976,274.97

0.39%

265 - 288

374,277.48

0.04%

0.00

0.00%

374,277.48

0.07%

289 - 312

312,993.80

0.03%

104,945.13

0.02%

208,048.67

0.04%

313 - 336

266,977.57

0.03%

0.00

0.00%

266,977.57

0.05%

337 - 360

3,211

704,403,068.25

75.96%

1,603

322,472,691.55

75.91%

1,608

381,930,376.70

76.01%

361 - 384

172,784.43

0.02%

0.00

0.00%

172,784.43

0.03%

457 - 480

843

212,141,280.37

22.88%

420

96,833,620.31

22.80%

423

115,307,660.06

22.95%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

Original Amortization Term

Month

Group 1 Weighted Average Original Amortization Months: 385
Group 2 Weighted Average Original Amortization Months: 386

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

25 - 48

154,181.90

0.02%

0.00

0.00%

154,181.90

0.03%

73 - 96

17,926.42

0.00%

0.00

0.00%

17,926.42

0.00%

97 - 120

574,603.35

0.06%

185,712.92

0.04%

388,890.43

0.08%

121 - 144

66,269.24

0.01%

0.00

0.00%

66,269.24

0.01%

169 - 192

226

13,955,830.48

1.51%

3,744,063.89

0.88%

190

10,211,766.59

2.03%

217 - 240

3,376,955.97

0.36%

1,451,779.83

0.34%

1,925,176.14

0.38%

265 - 288

374,277.48

0.04%

0.00

0.00%

374,277.48

0.07%

289 - 312

312,993.80

0.03%

104,945.13

0.02%

208,048.67

0.04%

313 - 336

266,977.57

0.03%

0.00

0.00%

266,977.57

0.05%

337 - 360

3,834

897,553,430.30

96.79%

1,998

414,450,091.44

97.57%

1,836

483,103,338.86

96.14%

361 - 384

172,784.43

0.02%

0.00

0.00%

172,784.43

0.03%

457 - 480

10,460,350.23

1.13%

4,856,220.42

1.14%

5,604,129.81

1.12%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

Original Remaining Term to Maturity

Month

Group 1 Weighted Average Original Remaining Months: 359
Group 2 Weighted Average Original Remaining Months: 357

04/21/2006

6:23 pm

Page S14

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

TOTAL

Group 1

Group 2

Count

Balance ($)

Count

Balance ($)

Count

Balance ($)

ALABAMA

2,291,471.44

0.25%

1,312,037.18

0.31%

979,434.26

0.19%

ALASKA

1,580,165.81

0.17%

734,730.42

0.17%

845,435.39

0.17%

ARIZONA

322

60,760,783.81

6.55%

180

31,833,371.41

7.49%

142

28,927,412.40

5.76%

ARKANSAS

1,825,227.86

0.20%

787,883.15

0.19%

1,037,344.71

0.21%

CALIFORNIA

1,303

385,661,508.19

41.59%

538

139,644,670.88

32.87%

765

246,016,837.31

48.96%

COLORADO

11,300,085.59

1.22%

7,103,027.72

1.67%

4,197,057.87

0.84%

CONNECTICUT

6,704,168.12

0.72%

4,086,314.06

0.96%

2,617,854.06

0.52%

DELAWARE

2,810,773.14

0.30%

622,432.10

0.15%

2,188,341.04

0.44%

DISTRICT OF COLUMBIA

2,037,250.74

0.22%

1,505,255.02

0.35%

531,995.72

0.11%

FLORIDA

790

144,465,840.44

15.58%

393

69,895,069.50

16.45%

397

74,570,770.94

14.84%

GEORGIA

5,511,005.42

0.59%

3,143,147.32

0.74%

2,367,858.10

0.47%

HAWAII

6,926,049.29

0.75%

3,519,725.00

0.83%

3,406,324.29

0.68%

IDAHO

2,488,479.32

0.27%

1,308,985.01

0.31%

1,179,494.31

0.23%

ILLINOIS

175

37,446,539.98

4.04%

100

21,773,617.40

5.13%

15,672,922.58

3.12%

INDIANA

2,079,277.62

0.22%

1,365,207.75

0.32%

714,069.87

0.14%

IOWA

1,870,461.89

0.20%

1,252,463.17

0.29%

617,998.72

0.12%

KANSAS

962,318.65

0.10%

789,875.70

0.19%

172,442.95

0.03%

KENTUCKY

1,639,295.03

0.18%

1,235,573.01

0.29%

403,722.02

0.08%

LOUISIANA

1,886,829.65

0.20%

1,234,667.37

0.29%

652,162.28

0.13%

MAINE

979,967.65

0.11%

649,366.34

0.15%

330,601.31

0.07%

MARYLAND

117

25,868,998.67

2.79%

16,751,265.89

3.94%

9,117,732.78

1.81%

MASSACHUSETTS

8,948,384.44

0.97%

5,469,795.39

1.29%

3,478,589.05

0.69%

MICHIGAN

8,687,151.61

0.94%

4,690,966.34

1.10%

3,996,185.27

0.80%

MINNESOTA

7,843,172.24

0.85%

4,902,734.20

1.15%

2,940,438.04

0.59%

MISSISSIPPI

1,729,406.32

0.19%

624,051.55

0.15%

1,105,354.77

0.22%

MISSOURI

4,219,349.07

0.46%

2,299,715.37

0.54%

1,919,633.70

0.38%

MONTANA

1,060,851.62

0.11%

403,619.53

0.10%

657,232.09

0.13%

NEBRASKA

833,224.56

0.09%

548,405.35

0.13%

284,819.21

0.06%

NEVADA

130

27,938,816.74

3.01%

13,694,190.49

3.22%

14,244,626.25

2.83%

NEW HAMPSHIRE

1,721,341.62

0.19%

999,561.92

0.24%

721,779.70

0.14%

NEW JERSEY

19,648,534.85

2.12%

9,618,701.20

2.26%

10,029,833.65

2.00%

NEW MEXICO

969,656.21

0.10%

338,145.94

0.08%

631,510.27

0.13%

NEW YORK

137

37,745,070.97

4.07%

16,416,873.10

3.86%

21,328,197.87

4.24%

NORTH CAROLINA

2,929,880.04

0.32%

2,055,443.67

0.48%

874,436.37

0.17%

NORTH DAKOTA

117,008.81

0.01%

0.00

0.00%

117,008.81

0.02%

OHIO

4,473,527.50

0.48%

1,144,982.24

0.27%

3,328,545.26

0.66%

OKLAHOMA

688,869.96

0.07%

440,127.55

0.10%

248,742.41

0.05%

OREGON

12,638,086.01

1.36%

8,597,029.90

2.02%

4,041,056.11

0.80%

PENNSYLVANIA

9,365,217.64

1.01%

4,598,405.24

1.08%

4,766,812.40

0.95%

RHODE ISLAND

2,590,812.66

0.28%

1,501,365.06

0.35%

1,089,447.60

0.22%

SOUTH CAROLINA

1,066,073.55

0.11%

261,171.40

0.06%

804,902.15

0.16%

SOUTH DAKOTA

233,413.91

0.03%

121,962.04

0.03%

111,451.87

0.02%

TENNESSEE

3,229,904.28

0.35%

1,831,816.32

0.43%

1,398,087.96

0.28%

TEXAS

9,193,577.15

0.99%

3,250,278.87

0.77%

5,943,298.28

1.18%

UTAH

5,474,105.50

0.59%

3,953,911.52

0.93%

1,520,193.98

0.30%

VIRGINIA

120

26,296,880.89

2.84%

13,549,692.42

3.19%

12,747,188.47

2.54%

WASHINGTON

17,670,622.68

1.91%

11,110,054.89

2.62%

6,560,567.79

1.31%

WEST VIRGINIA

552,677.56

0.06%

90,407.24

0.02%

462,270.32

0.09%

WISCONSIN

1,546,692.49

0.17%

1,080,404.26

0.25%

466,288.23

0.09%

WYOMING

777,771.98

0.08%

650,315.23

0.15%

127,456.75

0.03%

Total

4,165

927,286,581.17

100.00%

2,073

424,792,813.63

100.00%

2,092

502,493,767.54

100.00%

Geographic Distribution by State

State

04/21/2006

6:23 pm

Page S15

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

CALIFORNIA

FLORIDA

ARIZONA

ILLINOIS

MARYLAND

NEW YORK

NEVADA

VIRGINIA

WASHINGTON

NEW JERSEY

OREGON

COLORADO

MASSACHUSETTS

MINNESOTA

MICHIGAN

PENNSYLVANIA

CONNECTICUT

UTAH

HAWAII

TEXAS

GEORGIA

MISSOURI

NORTH CAROLINA

TENNESSEE

DISTRICT OF

COLUMBIA

RHODE ISLAND

INDIANA

ALABAMA

IDAHO

IOWA

KENTUCKY

LOUISIANA

OHIO

WISCONSIN

NEW HAMPSHIRE

KANSAS

ARKANSAS

ALASKA

WYOMING

MAINE

MISSISSIPPI

DELAWARE

NEBRASKA

OKLAHOMA

MONTANA

NEW MEXICO

SOUTH CAROLINA

SOUTH DAKOTA

WEST VIRGINIA

Collateral Balance Distribution by State

GROUP 1

CALIFORNIA

FLORIDA

ARIZONA

NEW YORK

ILLINOIS

NEVADA

VIRGINIA

NEW JERSEY

MARYLAND

WASHINGTON

TEXAS

PENNSYLVANIA

COLORADO

OREGON

MICHIGAN

MASSACHUSETTS

HAWAII

OHIO

MINNESOTA

CONNECTICUT

GEORGIA

DELAWARE

MISSOURI

UTAH

TENNESSEE

IDAHO

MISSISSIPPI

RHODE ISLAND

ARKANSAS

ALABAMA

NORTH CAROLINA

ALASKA

SOUTH CAROLINA

NEW HAMPSHIRE

INDIANA

MONTANA

LOUISIANA

NEW MEXICO

IOWA

DISTRICT OF

COLUMBIA

WISCONSIN

WEST VIRGINIA

KENTUCKY

MAINE

NEBRASKA

OKLAHOMA

KANSAS

WYOMING

NORTH DAKOTA

SOUTH DAKOTA

Collateral Balance Distribution by State

GROUP 2

04/21/2006

6:23 pm

Page S16

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

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Account Administrator

651-495-3847

michael.bengtson@usbank.com

DELINQUENCY REPORT

Current

30 - 59 days

60 - 89 days

90 - 120 days

TOTAL

Delinquent

Loan Count

Sched Bal

Percentage

Actual Bal

4,104

913,097,462.38

98.47%

913,405,457.77

11,724,624.76

1.26%

11,736,938.24

1,850,351.85

0.20%

1,854,159.49

614,142.18

0.07%

615,000.00

4,165

927,286,581.17

927,611,555.50

TOTAL

Loan Count

Sched Bal

Percentage

Actual Bal

4,104

913,097,462.38

98.47%

913,405,457.77

11,724,624.76

1.26%

11,736,938.24

1,850,351.85

0.20%

1,854,159.49

614,142.18

0.07%

615,000.00

4,165

927,286,581.17

100.00%

927,611,555.50

All Groups

Current

30 - 59 days

60 - 89 days

90 - 120 days

Current

98.5%

30 - 59 days

1.3%

60 - 89 days

0.2%

90 - 120 days

0.1%

Total:

100.0%

Current

30 - 59 days

60 - 89 days

90 - 120 days

TOTAL

Delinquent

Loan Count

Sched Bal

Percentage

Actual Bal

2,053

420,424,294.65

98.97%

420,583,879.13

2,918,904.35

0.69%

2,922,239.64

835,472.45

0.20%

838,153.93

614,142.18

0.14%

615,000.00

2,073

424,792,813.63

424,959,272.70

TOTAL

Loan Count

Sched Bal

Percentage

Actual Bal

2,053

420,424,294.65

98.97%

420,583,879.13

2,918,904.35

0.69%

2,922,239.64

835,472.45

0.20%

838,153.93

614,142.18

0.14%

615,000.00

2,073

424,792,813.63

100.00%

424,959,272.70

Group 1

Current

30 - 59 days

60 - 89 days

90 - 120 days

Current

99.0%

30 - 59 days

0.7%

60 - 89 days

0.2%

90 - 120 days

0.1%

Total:

100.0%

Current

30 - 59 days

60 - 89 days

TOTAL

Delinquent

Loan Count

Sched Bal

Percentage

Actual Bal

2,051

492,673,167.73

98.05%

492,821,578.64

8,805,720.41

1.75%

8,814,698.60

1,014,879.40

0.20%

1,016,005.56

2,092

502,493,767.54

502,652,282.80

TOTAL

Loan Count

Sched Bal

Percentage

Actual Bal

2,051

492,673,167.73

98.05%

492,821,578.64

8,805,720.41

1.75%

8,814,698.60

1,014,879.40

0.20%

1,016,005.56

2,092

502,493,767.54

100.00%

502,652,282.80

Group 2

Current

30 - 59 days

60 - 89 days

Current

98.0%

30 - 59 days

1.8%

60 - 89 days

0.2%

Total:

100.0%

04/21/2006

6:23 pm

Page S17

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

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651-495-3847

michael.bengtson@usbank.com

Delinquency Report

30 - 59 days

60 - 89 days

90 - 120 days

TOTAL

Count

Balance ($)

% of Bal

Count

Balance ($)

% of Bal

Count

Balance ($)

% of Bal

Count

Balance ($)

% of Bal

Delinquent

11,724,624.76

82.63%

1,850,351.85

13.04%

614,142.18

4.33%

14,189,118.79

TOTAL

11,724,624.76

82.63%

1,850,351.85

13.04%

614,142.18

4.33%

14,189,118.79

100.00%

All Groups

30 - 59 days

60 - 89 days

90 - 120 days

TOTAL

Count

Balance ($)

% of Bal

Count

Balance ($)

% of Bal

Count

Balance ($)

% of Bal

Count

Balance ($)

% of Bal

Delinquent

2,918,904.35

66.82%

835,472.45

19.12%

614,142.18

14.06%

4,368,518.98

TOTAL

2,918,904.35

66.82%

835,472.45

19.12%

614,142.18

14.06%

4,368,518.98

100.00%

Group 1

30 - 59 days

60 - 89 days

TOTAL

Count

Balance ($)

% of Bal

Count

Balance ($)

% of Bal

Count

Balance ($)

% of Bal

Delinquent

8,805,720.41

89.67%

1,014,879.40

10.33%

9,820,599.81

TOTAL

8,805,720.41

89.67%

1,014,879.40

10.33%

9,820,599.81

100.00%

Group 2

20.57

5.89

4.33

62.06

7.15

90 - 120 days

60 - 89 days

30 - 59 days

Group 1

Group 2

Distribution of Delinquencies By Group and Days. (total 100%)

30.79

69.21

Delinquent

Group 1

Group 2

Distribution of Delinquencies By Group and Status Type. (total 100%)

04/21/2006

6:23 pm

Page S18

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

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Contact:

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651-495-3847

michael.bengtson@usbank.com

DELINQUENCY HISTORY REPORT - SIX MONTHS

March 2006

April 2006

Count

Balance ($)

Count

Balance ($)

30 - 59 days

5,365,954.62

11,724,624.76

60 - 89 days

547,353.77

1,850,351.85

90 - 120 days

0.00

614,142.18

All Groups

* Delinquency counts and amounts include loans in Bankruptcy, Forclosure and REO's

0.00M

2.00M

4.00M

6.00M

8.00M

10.00M

12.00M

14.00M

16.00M

18.00M

20.00M

Balance ($)

30 - 59 days

0.00M

2.00M

4.00M

6.00M

8.00M

10.00M

12.00M

14.00M

16.00M

18.00M

20.00M

Balance ($)

60 - 89 days

0.00M

2.00M

4.00M

6.00M

8.00M

10.00M

12.00M

14.00M

16.00M

18.00M

20.00M

Balance ($)

90 - 120 days

04/21/2006

6:23 pm

Page S19

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

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Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

March 2006

April 2006

Count

Balance ($)

Count

Balance ($)

30 - 59 days

2,179,465.64

2,918,904.35

60 - 89 days

547,353.77

835,472.45

90 - 120 days

0.00

614,142.18

Group 1

DELINQUENCY HISTORY REPORT - SIX MONTHS

* Delinquency counts and amounts include loans in Bankruptcy, Forclosure and REO's

10M

12M

14M

16M

18M

20M

Balance ($)

30 - 59 days

10M

12M

14M

16M

18M

20M

Balance ($)

60 - 89 days

10M

12M

14M

16M

18M

20M

Balance ($)

90 - 120 days

04/21/2006

6:23 pm

Page S20

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

March 2006

April 2006

Count

Balance ($)

Count

Balance ($)

30 - 59 days

3,186,488.98

8,805,720.41

60 - 89 days

0.00

1,014,879.40

Group 2

DELINQUENCY HISTORY REPORT - SIX MONTHS

* Delinquency counts and amounts include loans in Bankruptcy, Forclosure and REO's

10M

12M

14M

16M

18M

20M

Balance ($)

30 - 59 days

10M

12M

14M

16M

18M

20M

Balance ($)

60 - 89 days

04/21/2006

6:23 pm

Page S21

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

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michael.bengtson@usbank.com

CPR / CDR HISTORY REPORT - SIX MONTHS

Group 1

Group 2

Total

Current

Percentage
Amount ($)

24.47%

10,052,188.96

16.29%

7,500,698.91

20.15%

17,552,887.87

Life CPR

Percentage
Amount ($)

18.13%

10.24%

13.96%

Voluntary Constant Prepayment Rates (CPR)

Group 1

Group 2

Total

Current

Percentage
Amount ($)

0.00%

0.00

0.00%

0.00

0.00%

0.00

Life CDR

Percentage
Amount ($)

0.00%

Constant Default Rates (CDR)

04/21/2006

6:23 pm

Page S22

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00%

90.00%

100.00%

3/1/2006

4/1/2006

Group 1
Group 2
Total

Percentage

Current CPR

10M

12M

14M

16M

18M

20M

3/1/2006

4/1/2006

Group 1
Group 2
Total

Amount ($)

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00%

90.00%

100.00%

3/1/2006

4/1/2006

Group 1
Group 2
Total

Percentage

Current CDR

10M

12M

14M

16M

18M

20M

3/1/2006

4/1/2006

Group 1
Group 2
Total

Amount ($)

04/21/2006

6:23 pm

Page S23

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

# None #

BANKRUPTCY LOAN DETAIL REPORT

Next Due Date

Rate %

Ending Balance

Original Balance

Loan Number

Orig Term

Total:

04/21/2006

6:23 pm

Page S24

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

# None #

FORECLOSURE LOAN DETAIL REPORT

Next Due Date

Rate %

Ending Balance

Original Balance

Loan Number

Orig Term

Total:

04/21/2006

6:23 pm

Page S25

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

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Account Administrator

651-495-3847

michael.bengtson@usbank.com

# None #

REO LOAN DETAIL REPORT

Next Due Date

Rate %

Ending Balance

Original Balance

Loan Number

Orig Term

New REO?

Total:

04/21/2006

6:23 pm

Page S26

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

Count

Original
Balance

Prepayment

Liquidation

Group

Begin Balance

GROUP 1

10,008,465.00

9,983,689.40

0.00

435,039,404.67

GROUP 2

7,507,819.00

7,485,525.85

0.00

510,177,481.64

TOTAL:

17,516,284.00

17,469,215.25

0.00

2.29%

97.71%

1.47%

98.53%

Prepayment

Liquidation

Beginning Balance

PREPAYMENT & LIQUIDATION LOAN DETAIL REPORT

GROUP 1

Prepayment

Scheduled

Principal

Beginning

Balance

Original

Balance

Loan Num

Liquidation

Proceeds

Loss

Add'l Loss

Payoff Desc

Paid Off Date

Add'l Loss Date

Loan Rate

Loss

Severity

15421712

80,000.00

79,797.51

79,767.88

0.00

N/A

03/10/2006

29.63

7.250%

0.000%

15432693

159,250.00

159,249.99

0.00

N/A

03/29/2006

0.00

7.150%

0.000%

15459522

345,000.00

343,917.72

343,759.75

0.00

N/A

03/28/2006

157.97

6.475%

0.000%

15459951

266,500.00

265,167.47

264,940.83

0.00

N/A

03/24/2006

226.64

6.990%

0.000%

15460843

315,250.00

314,230.95

314,022.92

0.00

N/A

03/28/2006

208.03

8.250%

0.000%

15480684

390,000.00

0.00

N/A

03/02/2006

0.00

8.170%

0.000%

15481393

450,000.00

0.00

N/A

03/06/2006

0.00

5.650%

0.000%

15482813

74,400.00

74,376.85

0.00

N/A

03/09/2006

0.00

7.470%

0.000%

15497886

214,000.00

212,765.26

212,562.35

0.00

N/A

03/17/2006

202.91

6.425%

0.000%

15499650

136,000.00

135,252.22

135,125.22

0.00

N/A

03/22/2006

127.00

6.500%

0.000%

15501448

160,100.00

158,283.99

157,974.89

0.00

N/A

03/31/2006

309.10

7.250%

0.000%

15501737

156,000.00

155,384.09

155,258.67

0.00

N/A

03/14/2006

125.42

7.250%

0.000%

15503014

213,750.00

212,861.93

212,681.20

0.00

N/A

03/27/2006

180.73

6.990%

0.000%

15505746

165,000.00

164,068.92

163,910.43

0.00

N/A

03/22/2006

158.49

6.350%

0.000%

15506686

84,150.00

83,924.98

83,878.94

0.00

N/A

03/31/2006

46.04

9.175%

0.000%

15506850

217,500.00

217,499.98

0.00

N/A

03/20/2006

0.00

8.650%

0.000%

15511132

198,000.00

0.00

N/A

03/20/2006

0.00

7.400%

0.000%

15538069

272,692.00

272,690.00

0.00

N/A

03/30/2006

0.00

5.990%

0.000%

15539976

180,000.00

0.00

N/A

03/27/2006

0.00

7.400%

0.000%

15542558

228,000.00

0.00

N/A

03/15/2006

0.00

6.400%

0.000%

15542913

312,000.00

0.00

N/A

03/03/2006

0.00

5.990%

0.000%

15545791

281,250.00

0.00

N/A

03/14/2006

0.00

5.940%

0.000%

15549124

136,000.00

135,284.99

135,139.57

0.00

N/A

03/30/2006

145.42

5.750%

0.000%

15550429

199,500.00

199,013.77

198,930.23

0.00

N/A

03/31/2006

83.54

10.500%

0.000%

04/21/2006

6:23 pm

Page S27

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

GROUP 1

Prepayment

Scheduled

Principal

Beginning

Balance

Original

Balance

Loan Num

Liquidation

Proceeds

Loss

Add'l Loss

Payoff Desc

Paid Off Date

Add'l Loss Date

Loan Rate

Loss

Severity

15551310

286,000.00

284,946.51

284,731.79

0.00

N/A

03/14/2006

214.72

7.600%

0.000%

15552474

181,041.00

180,455.74

180,336.26

0.00

N/A

03/15/2006

119.48

8.250%

0.000%

15553027

190,000.00

189,391.98

189,267.84

0.00

N/A

03/09/2006

124.14

8.300%

0.000%

15553522

255,672.00

254,998.92

254,861.18

0.00

N/A

03/06/2006

137.74

9.250%

0.000%

15553563

360,000.00

358,882.63

358,654.41

0.00

N/A

03/27/2006

228.22

8.450%

0.000%

15553589

256,500.00

255,727.86

255,570.10

0.00

N/A

03/31/2006

157.76

8.600%

0.000%

15555089

182,500.00

0.00

N/A

03/23/2006

0.00

6.590%

0.000%

15557333

310,000.00

309,397.62

309,245.09

0.00

N/A

03/08/2006

152.53

6.150%

0.000%

15559560

277,500.00

277,085.51

276,945.95

0.00

N/A

03/30/2006

139.56

6.050%

0.000%

15559776

280,000.00

279,664.32

279,551.15

0.00

N/A

03/09/2006

113.17

6.850%

0.000%

15563570

227,000.00

226,692.55

226,614.49

0.00

N/A

03/24/2006

78.06

7.450%

0.000%

15577455

143,000.00

142,709.83

142,636.38

0.00

N/A

03/09/2006

73.45

5.990%

0.000%

15579477

210,000.00

209,653.89

209,566.14

0.00

N/A

03/09/2006

87.75

6.750%

0.000%

15579550

170,000.00

169,432.14

169,288.11

0.00

N/A

03/23/2006

144.03

6.950%

0.000%

15580681

212,000.00

211,563.48

211,451.75

0.00

N/A

03/31/2006

110.08

5.950%

0.000%

15581192

153,000.00

152,867.38

152,833.60

0.00

N/A

03/31/2006

33.78

8.990%

0.000%

15627474

179,910.00

0.00

N/A

03/30/2006

0.00

6.970%

0.000%

15632359

272,000.00

0.00

N/A

03/02/2006

0.00

5.890%

0.000%

15634975

110,000.00

109,872.62

109,840.24

0.00

N/A

03/01/2006

32.38

7.999%

0.000%

15636681

130,000.00

129,845.22

129,793.03

0.00

N/A

03/21/2006

52.19

6.875%

0.000%

15639362

248,000.00

247,586.63

247,508.68

0.00

N/A

03/15/2006

77.95

7.800%

0.000%

15640311

140,000.00

139,673.63

139,563.51

0.00

N/A

03/22/2006

110.12

7.300%

0.000%

Total:

10,008,465.00

9,987,879.08

4,188.03

9,983,689.40

0.00

GROUP 2

Prepayment

Scheduled

Principal

Beginning

Balance

Original

Balance

Loan Num

Liquidation

Proceeds

Loss

Add'l Loss

Payoff Desc

Paid Off Date

Add'l Loss Date

Loan Rate

Loss

Severity

15402118

166,500.00

0.00

N/A

03/27/2006

0.00

7.800%

0.000%

15420706

34,600.00

34,473.97

34,463.56

0.00

N/A

03/01/2006

10.41

12.375%

0.000%

15458060

296,000.00

0.00

N/A

03/23/2006

0.00

6.900%

0.000%

15462583

274,000.00

271,926.80

271,689.68

0.00

N/A

03/09/2006

237.12

6.990%

0.000%

15485725

84,000.00

0.00

N/A

03/17/2006

0.00

7.250%

0.000%

15496540

174,262.00

173,481.57

173,348.62

0.00

N/A

03/08/2006

132.95

7.550%

0.000%

15496565

160,000.00

159,351.49

159,240.86

0.00

N/A

03/02/2006

110.63

8.050%

0.000%

15496706

52,000.00

51,731.49

51,685.84

0.00

N/A

03/16/2006

45.65

6.825%

0.000%

15498983

339,920.00

338,412.73

338,155.92

0.00

N/A

03/31/2006

256.81

7.600%

0.000%

15499460

225,000.00

223,672.87

223,459.37

0.00

N/A

03/13/2006

213.50

6.425%

0.000%

15501729

260,000.00

259,217.32

259,057.40

0.00

N/A

03/31/2006

159.92

8.600%

0.000%

04/21/2006

6:23 pm

Page S28

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

GROUP 2

Prepayment

Scheduled

Principal

Beginning

Balance

Original

Balance

Loan Num

Liquidation

Proceeds

Loss

Add'l Loss

Payoff Desc

Paid Off Date

Add'l Loss Date

Loan Rate

Loss

Severity

15503758

205,600.00

204,819.73

204,660.76

0.00

N/A

03/22/2006

158.97

7.450%

0.000%

15509029

60,900.00

60,585.45

60,557.79

0.00

N/A

03/30/2006

27.33

10.425%

0.000%

15509938

227,920.00

0.00

N/A

03/20/2006

0.00

8.000%

0.000%

15545577

322,500.00

0.00

N/A

03/09/2006

0.00

6.690%

0.000%

15550627

204,000.00

203,086.40

202,930.76

0.00

N/A

03/21/2006

155.64

7.550%

0.000%

15553050

142,500.00

142,116.96

142,038.59

0.00

N/A

03/17/2006

78.37

9.150%

0.000%

15554579

300,000.00

299,228.89

299,072.37

0.00

N/A

03/22/2006

156.52

5.950%

0.000%

15555279

219,215.00

0.00

N/A

03/22/2006

0.00

7.050%

0.000%

15579105

628,387.00

626,447.08

625,954.65

0.00

N/A

03/03/2006

492.43

7.350%

0.000%

15580228

95,000.00

94,829.29

94,771.57

0.00

N/A

03/01/2006

57.72

8.590%

0.000%

15586415

271,915.00

271,373.95

271,191.16

0.00

N/A

03/22/2006

182.79

8.090%

0.000%

15590334

182,400.00

181,775.35

181,707.35

0.00

N/A

03/06/2006

68.00

7.280%

0.000%

15625817

356,000.00

355,082.50

354,773.20

0.00

N/A

03/21/2006

309.30

6.790%

0.000%

15626500

89,000.00

88,917.38

88,889.30

0.00

N/A

03/21/2006

28.08

11.690%

0.000%

15627094

218,000.00

216,835.53

216,637.67

0.00

N/A

03/13/2006

197.86

6.650%

0.000%

15632946

229,000.00

228,702.77

228,627.28

0.00

N/A

03/20/2006

75.49

7.600%

0.000%

15633365

312,000.00

311,699.39

311,597.91

0.00

N/A

03/27/2006

101.48

7.625%

0.000%

15633639

278,800.00

278,558.37

278,496.83

0.00

N/A

03/21/2006

61.54

8.990%

0.000%

15634603

253,000.00

252,657.34

252,570.34

0.00

N/A

03/23/2006

87.00

7.450%

0.000%

15634629

131,000.00

130,566.62

130,456.69

0.00

N/A

03/02/2006

109.93

6.999%

0.000%

15634793

450,400.00

449,847.89

449,707.61

0.00

N/A

03/13/2006

140.28

7.800%

0.000%

15635824

264,000.00

263,719.02

263,647.77

0.00

N/A

03/28/2006

71.25

8.300%

0.000%

Total:

7,507,819.00

7,489,253.15

3,726.97

7,485,525.85

0.00

04/21/2006

6:23 pm

Page S29

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

Loan Detail Report

The trustee is not aware of any material modifications, extensions or waivers to pool asset terms, fees, penalties

or payments #

MATERIAL MODIFICATIONS, EXTENTIONS, WAIVERS LOAN DETAIL REPORT

04/21/2006

6:23 pm

Page S30

Distribution Date: Apr 25, 2006

DISTRIBUTION PACKAGE

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2

Contact:

Mike Bengtson

Account Administrator

651-495-3847

michael.bengtson@usbank.com

Loan Detail Report

The trustee is not aware of any material breaches of pool asset representations or warranties or transaction

covenants. #

MATERIAL BREACHES LOAN DETAIL REPORT

04/21/2006

6:23 pm

Page S31

C-BASS 2006-CB2 TRUST 10-D