Content:

Pages

Contact Information:

6/25/2007 0:00

Statement to Certificate Holders

Analyst:

James Wang

714.259.6289

Statement to Certificate Holders (Factors)

james.wang@abnamro.com

Pool/Non-Pool Funds Cash Reconciliation

5/25/2007 0:00

Administrator:

Rachel Otto

312.904.4839

Cash Reconciliation Summary

5-6

rachel.otto@abnamro.com

Pool Detail and Performance Indicators

7-9

LaSalle Website:

www.etrustee.net

Bond Interest Reconciliation Part I

7/25/2007 0:00

Bond Interest Reconciliation Part II

Bond Principal Reconciliation

Outside Parties To The Transaction

Rating Information

6/22/2007

End of Month Balance Reporting

14-15

15 Month Loan Status Summary Part I

16-18

15 Month Loan Status Summary Part II

19-21

15 Month Historical Payoff Summary

22-23

Prepayment Summary

Mortgage Loan Characteristics Part I

Mortgage Loan Characteristics Part II

26-28

2/28/2007

Geographic Concentration

Current Period Realized Loss Detail

Historical Realized Loss Summary

31-33

3/26/2007 0:00

Realized Loss Summary

Historical Collateral Level REO Report

35-37

Material Breaches Detail

Modified Loan Detail

2/25/2037 0:00

Substitution Detail History

Substitution Detail History Summary

6/18/2007 0:00

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

ABN AMRO Acct : 724527.1

Payment Date:

25-Jun-07

Prior Payment:

25-May-07

Next Payment:

25-Jul-07

Record Date:

22-Jun-07

Distribution

Count:

Depositor: Securitized Asset Backed Receivables LLC

Underwriter: Barclays Capital Inc.

Closing Date:

28-Feb-07

Master Servicer: Litton Loan Servicing L.P.

First Pay. Date:

Rating Agency: Fitch/Moody's Investors Service, Inc./Dominion Bond Rating
Service, Inc - New York/Standard & Poors Rating Services

26-Mar-07

Rated Final

Payment Date:

25-Feb-37

Determination

Date:

18-Jun-07

Delinq Method:

OTS

24-Jun-2007 02:47

1248MBAF2

220,801,000.00

211,376,563.21

3,710,435.31

0.00

207,666,127.90

992,912.05

0.00

5.4550000000%

A2-A

1248MBAG0

328,732,000.00

288,129,943.45

12,576,964.82

0.00

275,552,978.63

1,414,477.91

0.00

5.8910000000%

A2-B

1248MBAH8

38,231,000.00

0.00

38,231,000.00

175,384.71

0.00

5.5050000000%

A2-C

1248MBAJ4

121,034,000.00

0.00

121,034,000.00

567,145.15

0.00

5.6230000000%

A2-D

1248MBAK1

50,405,000.00

0.00

50,405,000.00

247,068.51

0.00

5.8820000000%

A2-E

1248MBAL9

59,822,000.00

0.00

59,822,000.00

283,307.02

0.00

5.6830000000%

M-1

1248MBAM7

30,504,000.00

0.00

30,504,000.00

146,309.05

0.00

5.5700000000%

M-2

1248MBAN5

28,978,000.00

0.00

28,978,000.00

139,738.36

0.00

5.6000000000%

M-3

1248MBAP0

18,302,000.00

0.00

18,302,000.00

89,201.91

0.00

5.6600000000%

M-4

1248MBAQ8

14,743,000.00

0.00

14,743,000.00

72,617.47

0.00

5.7200000000%

M-5

1248MBAR6

15,251,000.00

0.00

15,251,000.00

76,038.94

0.00

5.7900000000%

M-6

1248MBAS4

14,235,000.00

0.00

14,235,000.00

71,586.23

0.00

5.8400000000%

B-1

1248MBAT2

13,218,000.00

0.00

13,218,000.00

73,642.62

0.00

6.4700000000%

B-2

1248MBAU9

12,201,000.00

0.00

12,201,000.00

70,603.12

0.00

6.7200000000%

B-3

1248MBAV7

10,167,000.00

0.00

10,167,000.00

64,085.99

0.00

7.3200000000%

B-4

1248MBAW5

10,167,000.00

0.00

10,167,000.00

57,189.38

0.00

6.7500000000%

CE-1

1248MBAA3

1,016,791,554.00 N

966,759,857.49

0.00

950,472,457.36

1,492,365.91

110,673.24

N/A

CE-2

1248MBAB1

1,016,791,554.00 N

966,759,857.49

0.00

950,472,457.36

281,971.63

0.00

N/A

1248MBAC9

100.00

0.00

100.00

204,881.01

N/A

1248MBAD7

0.00

N/A

R-X

1248MBAE5

0.00

N/A

Total

986,791,100.00

936,764,606.66

16,287,400.13

0.00

920,477,206.53

6,520,526.97

315,554.25

Total P&I Payment

22,807,927.10

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Original Face

Value

(1)

Beginning

Certificate

Balance

Distribution Date: 25-Jun-07

Bond Payments

Interest Payment

(2)

Interest

Adjustment

Pass-Through

Rate

(1)

N denotes notional balance not included in total

(2)

Accrued Interest plus/minus Interest Adjustment minus Deferred Interest equals Interest Payment

Principal Payment

Principal

Adjustment or

Loss

Deferred

Interest

Ending Certificate

Balance

Class

CUSIP

Page 2 of 41

24-Jun-2007 02:46

1248MBAF2

220,801,000.00

957.317055677

16.804431638

0.000000000

940.512624039

4.496863918

0.000000000

N/A

A2-A

1248MBAG0

328,732,000.00

876.488882877

38.259022000

0.000000000

838.229860878

4.302829995

0.000000000

N/A

A2-B

1248MBAH8

38,231,000.00

1000.000000000

0.000000000

1000.000000000

4.587499935

0.000000000

N/A

A2-C

1248MBAJ4

121,034,000.00

1000.000000000

0.000000000

1000.000000000

4.685833320

0.000000000

N/A

A2-D

1248MBAK1

50,405,000.00

1000.000000000

0.000000000

1000.000000000

4.901666700

0.000000000

N/A

A2-E

1248MBAL9

59,822,000.00

1000.000000000

0.000000000

1000.000000000

4.735833305

0.000000000

N/A

M-1

1248MBAM7

30,504,000.00

1000.000000000

0.000000000

1000.000000000

4.796388998

0.000000000

5.32000000%

M-2

1248MBAN5

28,978,000.00

1000.000000000

0.000000000

1000.000000000

4.822222376

0.000000000

5.32000000%

M-3

1248MBAP0

18,302,000.00

1000.000000000

0.000000000

1000.000000000

4.873888646

0.000000000

5.32000000%

M-4

1248MBAQ8

14,743,000.00

1000.000000000

0.000000000

1000.000000000

4.925555857

0.000000000

5.32000000%

M-5

1248MBAR6

15,251,000.00

1000.000000000

0.000000000

1000.000000000

4.985833060

0.000000000

5.32000000%

M-6

1248MBAS4

14,235,000.00

1000.000000000

0.000000000

1000.000000000

5.028888655

0.000000000

5.32000000%

B-1

1248MBAT2

13,218,000.00

1000.000000000

0.000000000

1000.000000000

5.571389015

0.000000000

5.32000000%

B-2

1248MBAU9

12,201,000.00

1000.000000000

0.000000000

1000.000000000

5.786666667

0.000000000

5.32000000%

B-3

1248MBAV7

10,167,000.00

1000.000000000

0.000000000

1000.000000000

6.303333333

0.000000000

5.32000000%

B-4

1248MBAW5

10,167,000.00

1000.000000000

0.000000000

1000.000000000

5.625000492

0.000000000

5.32000000%

CE-1

1248MBAA3

1,016,791,554.00 N

950.794539635

0.000000000

934.776113768

1.467720600

0.108845554

N/A

CE-2

1248MBAB1

1,016,791,554.00 N

950.794539635

0.000000000

934.776113768

0.277315079

0.000000000

Fixed

1248MBAC9

100.00

1000.000000000

0.000000000

1000.000000000

2048810.100000000

5.32000000%

1248MBAD7

0.00

0.000000000

N/A

R-X

1248MBAE5

0.00

0.000000000

N/A

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Deferred Interest *

Ending Certificate

Balance *

Interest Payment *

Distribution Date: 25-Jun-07

Statement to Certificate Holders (FACTORS)

Interest Adjustment*

Next Rate **

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

Bond Payments

Class

CUSIP

Original Face

Value

Beginning Certificate

Balance *

Principal Payment

Principal

Adjustment or

Loss

Page 3 of 41

24-Jun-2007 02:46

Interest Summary

Principal Summary

Reserve Fund

Interest Summary

Principal Summary

Beginning Balance

0.00

Scheduled Interest

6,325,788.74

Scheduled Prin Distribution

645,286.54

Withdrawal from Trust

0.00

Fees

120,816.02

Curtailments

43,673.92

Reimbursement from Waterfall

0.00

Remittance Interest

6,204,972.72

Prepayments in Full

15,598,439.67

Ending Balance

0.00

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

0.00

Prepayment Penalties

204,881.01

Repurchase Proceeds

0.00

Swap Agreement

Other Interest Loss

0.00

Other Principal Proceeds

0.00

Other Interest Proceeds

0.00

Remittance Principal

16,287,400.13

Net Swap payment payable to the Swap

Non-advancing Interest

0.00

Administrator

110,673.25

Net PPIS/Relief Act Shortfall

0.00

Net Swap payment payable to the Swap Provider

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

204,881.01

Swap Termination payment payable to the Swap

Interest Adjusted

6,409,853.73

Administrator

0.00

Fee Summary

Swap Termination payment payable to the Swap

0.00

Total Servicing Fees

120,816.02

Provider

Total Trustee Fees

0.00

LPMI Fees

0.00

Amount Received Under Cap Agreement

0.00

Credit Manager's Fees

0.00

Misc. Fees / Trust Expense

0.00

Excess Interest Amount

1,663,664.30

Insurance Premium

0.00

Excess Cash Flow Amount

1,663,664.30

Total Fees

120,816.02

Advances (Principal & Interest)

Prior Month's Outstanding Advances

N/A

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

N/A

P&I Due Certificate Holders

22,807,927.11

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Pool Source of Funds

Non-Pool Source of Funds

P&I Advances as of the end of the Due Period do not reflect the amount of advances remitted by the Servicer on the Servicer Remittance Date due to additional proceeds received between the end of the Due Period and the Servicer Remittance Date and netted from the P&I Advances
stated as of the end of the Due Period.

Distribution Date: 25-Jun-07

Cash Reconciliation Summary

Page 4 of 41

24-Jun-2007 02:46

Group I Loans

Total

Interest Summary

Scheduled Interest

1,836,944.92

Fees

33,082.46

Remittance Interest

1,803,862.46

Other Interest Proceeds/Shortfalls

Prepayment Penalties

42,503.39

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

42,503.39

Interest Adjusted

1,846,365.85

Principal Summary

Scheduled Principal Distribution

87,484.42

Curtailments

4,971.83

Prepayments in Full

3,617,979.06

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

3,710,435.31

Fee Summary

Total Servicing Fees

33,082.46

Total Trustee Fees

0.00

LPMI Fees

0.00

Misc. Fees

0.00

Total Fees

33,082.46

Beginning Principal Balance

264,691,213.30

Ending Principal Balance

260,980,777.99

Advances (Principal & Interest)

Prior Month's Outstanding Advances

N/A

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

N/A

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Cash Reconciliation Summary Group I

Page 5 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Group II Loans

Total

Interest Summary

Scheduled Interest

4,488,843.82

Fees

87,733.56

Remittance Interest

4,401,110.26

Other Interest Proceeds/Shortfalls

Prepayment Penalties

162,377.62

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

0.00

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

162,377.62

Interest Adjusted

4,563,487.88

Principal Summary

Scheduled Principal Distribution

557,802.12

Curtailments

38,702.09

Prepayments in Full

11,980,460.61

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

12,576,964.82

Fee Summary

Total Servicing Fees

87,733.56

Total Trustee Fees

0.00

LPMI Fees

0.00

Misc. Fees

0.00

Total Fees

87,733.56

Beginning Principal Balance

702,068,644.19

Ending Principal Balance

689,491,679.37

Advances (Principal & Interest)

Prior Month's Outstanding Advances

N/A

Current Advances

N/A

Reimbursement of Prior Advances

N/A

Outstanding Advances

N/A

Cash Reconciliation Summary Group II

Page 6 of 41

24-Jun-2007 02:46

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

1,016,791,553.68

5,848

3 mo. Rolling Average

16,817,616

966,808,742

1.75%

WAC - Remit Current

7.54%

7.89%

7.70%

Cum Scheduled Principal

2,641,805.84

6 mo. Rolling Average

12,613,212

975,549,235

1.31%

WAC - Remit Original

7.69%

8.03%

7.85%

Cum Unscheduled Principal

63,677,290.48

12 mo. Rolling Average

12,613,212

975,549,235

1.31%

WAC - Current

7.68%

8.04%

7.85%

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAC - Original

7.69%

8.03%

7.85%

Cum Repurchases

0.00

3 mo. Cum Loss

0.00

WAL - Current

318.79

349.68

333.24

6 mo. Cum loss

0.00

WAL - Original

321.32

352.47

335.80

Current

Amount

Count

12 mo. Cum Loss

0.00

Beginning Pool

966,759,857.49

5,574

95.08%

Current Index Rate

Scheduled Principal

645,286.54

0.06%

Triggers

Next Index Rate

Unscheduled Principal

15,642,113.59

1.54%

Liquidations

0.00

0.00%

> Delinquency Trigger Event

(2)

Repurchases

0.00

0.00%

Delinquency Event Calc

(1)

16,817,616.25

966,808,742

1.75%

Ending Pool

950,472,457.36

5,494

93.48%

> Loss Trigger Event?

(3)

Average Loan Balance

173,001.90

Cumulative Loss

0.00%

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Current Specified Enhancement %

(4)

20.81%

Cut-off LTV

79.17%

Step Down %

(5)

38.90%

Cash Out/Refinance

70.51%

Credit Enhancement

Amount

Delinquent Event Threshold %

(6)

38.90%

SFR

74.38%

Original OC

30,000,553.68

2.95%

> Step Down Date?

Target OC

29,995,350.83

2.95%

Min

Max

W A

Beginning OC

29,995,350.83

FICO

500

829

652.37

OC Amount per PSA

29,995,350.83

2.95%

Ending OC

29,995,350.83

Extra Principal

0.00

Non-Senior Certificates

167,766,000.00 16.50%

Cumulative Extra Principal

0.00

OC Deficiency

0.00

OC Release

N/A

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Pool Detail and Performance Indicators Total (All Loans)

Misc/Additional Information

Pool Level Information

5.320000%

Balance

767,141,740.23

683,187,717.03

720,697,397.12

Legend: (1) 60 Days+, REO, BK, F/C % (3) Condn: Cum Loss > specified thresholds (5) Defined Benchmark (7) Condn: Distn Cnt > 36, (4) > (5)
(2) (1) > (6) then TRUE (4) Non-Senior Certs + OC Amount / Ending Pool Bal (6) Defined Benchmark (Used in Delinq Event Calc)
Note: Delinquency and Loss Event Triggers may be flagged as "Yes" prior to the Step Down Date on account of the percentage thresholds being breached.

Owner Occupied

914,493,433.26

94.38%

Page 7 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

274,117,027.35

1,650

3 mo. Rolling Average

6,070,988

264,462,665

2.31%

WAC - Remit Current

8.35%

8.14%

8.18%

Cum Scheduled Principal

351,926.87

6 mo. Rolling Average

4,553,241

265,882,203

1.73%

WAC - Remit Original

8.51%

8.30%

8.34%

Cum Unscheduled Principal

12,784,322.49

12 mo. Rolling Average

4,553,241

265,882,203

1.73%

WAC - Current

8.49%

8.29%

8.33%

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAC - Original

8.51%

8.30%

8.34%

Cum Repurchases

0.00

3 mo. Cum Loss

0.00

WAL - Current

319.72

351.74

345.34

6 mo. Cum loss

0.00

WAL - Original

322.21

354.69

348.33

Current

Amount

Count

12 mo. Cum Loss

0.00

Beginning Pool

264,691,213.30

1,601

96.56%

Current Index Rate

Scheduled Principal

87,484.42

0.03%

Triggers

Next Index Rate

Unscheduled Principal

3,622,950.89

1.32%

Liquidations

0.00

0.00%

> Delinquency Trigger Event

(2)

Repurchases

0.00

0.00%

Delinquency Event Calc

(1)

6,070,988.14

264,462,665

2.31%

Ending Pool

260,980,777.99

1,582

95.21%

> Loss Trigger Event?

(3)

Average Loan Balance

164,968.89

Cumulative Loss

N/A

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Current Specified Enhancement %

(4)

N/A

Cut-off LTV

80.21%

Step Down %

(5)

N/A

Cash Out/Refinance

71.76%

Credit Enhancement

Amount

Delinquent Event Threshold %

(6)

N/A

SFR

71.66%

Original OC

N/A

> Step Down Date?

Target OC

N/A

Min

Max

W A

Beginning OC

N/A

FICO

500

807

624.40

OC Amount per PSA

N/A

Ending OC

N/A

Extra Principal

0.00

Non-Senior Certificates

N/A

Cumulative Extra Principal

0.00

OC Deficiency

0.00

OC Release

N/A

Pool Detail and Performance Indicators Group I

Misc/Additional Information

Pool Level Information

N/A

Balance

212,564,842.69

190,169,289.14

189,917,124.29

Owner Occupied

239,797,301.19

90.48%

Page 8 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

742,674,526.33

4,198

3 mo. Rolling Average

10,746,628

702,346,077

1.54%

WAC - Remit Current

7.45%

7.68%

7.53%

Cum Scheduled Principal

2,289,878.97

6 mo. Rolling Average

8,059,971

709,667,032

1.16%

WAC - Remit Original

7.60%

7.79%

7.66%

Cum Unscheduled Principal

50,892,967.99

12 mo. Rolling Average

8,059,971

709,667,032

1.16%

WAC - Current

7.59%

7.83%

7.67%

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAC - Original

7.60%

7.79%

7.66%

Cum Repurchases

0.00

3 mo. Cum Loss

0.00

WAL - Current

318.69

347.85

328.65

6 mo. Cum loss

0.00

WAL - Original

321.23

350.54

331.17

Current

Amount

Count

12 mo. Cum Loss

0.00

Beginning Pool

702,068,644.19

3,973

94.53%

Current Index Rate

Scheduled Principal

557,802.12

0.08%

Triggers

Next Index Rate

Unscheduled Principal

12,019,162.70

1.62%

Liquidations

0.00

0.00%

> Delinquency Trigger Event

(2)

Repurchases

0.00

0.00%

Delinquency Event Calc

(1)

10,746,628.11

702,346,077

1.54%

Ending Pool

689,491,679.37

3,912

92.84%

> Loss Trigger Event?

(3)

Average Loan Balance

176,250.43

Cumulative Loss

N/A

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Current Specified Enhancement %

(4)

N/A

Cut-off LTV

78.78%

Step Down %

(5)

N/A

Cash Out/Refinance

70.04%

Credit Enhancement

Amount

Delinquent Event Threshold %

(6)

N/A

SFR

75.40%

Original OC

N/A

> Step Down Date?

Target OC

N/A

Min

Max

W A

Beginning OC

N/A

FICO

500

829

662.96

OC Amount per PSA

N/A

Ending OC

N/A

Extra Principal

0.00

Non-Senior Certificates

N/A

Cumulative Extra Principal

0.00

OC Deficiency

0.00

OC Release

N/A

Pool Detail and Performance Indicators Group II

Misc/Additional Information

Pool Level Information

N/A

Balance

554,576,897.54

493,018,427.89

530,780,272.83

Owner Occupied

674,696,132.07

95.85%

Page 9 of 41

24-Jun-2007 02:46

Act/360

211,376,563.21

5.455000000%

992,912.05

0.00

992,912.05

0.00

A2-A

30/360

288,129,943.45

5.891000000%

1,414,477.91

0.00

1,414,477.91

0.00

A2-B

30/360

38,231,000.00

5.505000000%

175,384.71

0.00

175,384.71

0.00

A2-C

30/360

121,034,000.00

5.623000000%

567,145.15

0.00

567,145.15

0.00

A2-D

30/360

50,405,000.00

5.882000000%

247,068.51

0.00

247,068.51

0.00

A2-E

30/360

59,822,000.00

5.683000000%

283,307.02

0.00

283,307.02

0.00

M-1

Act/360

30,504,000.00

5.570000000%

146,309.05

0.00

146,309.05

0.00

M-2

Act/360

28,978,000.00

5.600000000%

139,738.36

0.00

139,738.36

0.00

M-3

Act/360

18,302,000.00

5.660000000%

89,201.91

0.00

89,201.91

0.00

M-4

Act/360

14,743,000.00

5.720000000%

72,617.47

0.00

72,617.47

0.00

M-5

Act/360

15,251,000.00

5.790000000%

76,038.94

0.00

76,038.94

0.00

M-6

Act/360

14,235,000.00

5.840000000%

71,586.23

0.00

71,586.23

0.00

B-1

Act/360

13,218,000.00

6.470000000%

73,642.62

0.00

73,642.62

0.00

B-2

Act/360

12,201,000.00

6.720000000%

70,603.12

0.00

70,603.12

0.00

B-3

Act/360

10,167,000.00

7.320000000%

64,085.99

0.00

64,085.99

0.00

B-4

30/360

10,167,000.00

6.750000000%

57,189.38

0.00

57,189.38

0.00

CE-1

966,759,857.49

N/A

1,381,692.67

110,673.24

0.00

1,492,365.91

0.00

CE-2

966,759,857.49

N/A

281,971.63

0.00

281,971.63

0.00

100.00

N/A

0.00

204,881.01

0.00

204,881.01

0.00

N/A

0.00

N/A

R-X

0.00

N/A

0.00

N/A

Total

936,764,606.66

6,204,972.72

315,554.25

0.00

6,520,526.97

0.00

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Bond Interest Reconciliation - Part I

- - A c c r u a l - -

- - - - - - - - O u t s t a n d i n g - - - - - - - -

Class

Method

Days

Opening Balance

Pass-Thru Rate

Accrual

Certificate

Interest

Total Interest

Additions

Total Interest

Deductions

Remaining

Basis Risk
Carry-Fwd

Shortfall

Outstanding Relief

Act / Prepayment

Interest Shortfalls

Net Cap

Rate in

Effect Y/N

(1)

Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

Distributable

Certificate

Interest

Interest Payment

Amount

Current Period

(Shortfall) /

Recovery

Remaining Int

Carry-Forward

Shortfall

Page 10 of 41

24-Jun-2007 02:46

22-Jun-07

25-May-07

25-Jun-07

0.00

A2-A

31-May-07

1-May-07

1-Jun-07

0.00

A2-B

31-May-07

1-May-07

1-Jun-07

0.00

A2-C

31-May-07

1-May-07

1-Jun-07

0.00

A2-D

31-May-07

1-May-07

1-Jun-07

0.00

A2-E

31-May-07

1-May-07

1-Jun-07

0.00

M-1

22-Jun-07

25-May-07

25-Jun-07

0.00

M-2

22-Jun-07

25-May-07

25-Jun-07

0.00

M-3

22-Jun-07

25-May-07

25-Jun-07

0.00

M-4

22-Jun-07

25-May-07

25-Jun-07

0.00

M-5

22-Jun-07

25-May-07

25-Jun-07

0.00

M-6

22-Jun-07

25-May-07

25-Jun-07

0.00

B-1

22-Jun-07

25-May-07

25-Jun-07

0.00

B-2

22-Jun-07

25-May-07

25-Jun-07

0.00

B-3

22-Jun-07

25-May-07

25-Jun-07

0.00

B-4

31-May-07

1-May-07

1-Jun-07

0.00

CE-1

31-May-07

1-May-07

1-Jun-07

0.00

110,673.24

0.00

CE-2

31-May-07

1-May-07

1-Jun-07

0.00

31-May-07

0.00

204,881.01

0.00

31-May-07

0.00

R-X

31-May-07

0.00

Total

0.00

204,881.01

0.00

110,673.24

0.00

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Bond Interest Reconciliation - Part II

- - - - - - - - - - - - - - - - - - - - - - - - - - - A d d i t i o n s - - - - - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - D e d u c t i o n s - - - - - - - - - -

Class

Record Date

Prior Interest Due

Date

Current Interest

Due Date

Interest Rate

SWAP Agreement

Deposits from YM

Agreement

Prepayment

Premiums

Prior Int Carry-Fwd

Shortfall

Current Basis Risk

Carry-Fwd

Shortfall

(1)

Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

(2)

Interest Carry-Forward Shortfall is unpaid interest with interest thereon.

(3)

Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

Prior Shortfall

Reimbursement

Other Interest

Proceeds

(1)

Other Interest

Losses

Current Int Carry-

Fwd Shortfall

(2)

Page 11 of 41

24-Jun-2007 02:46

220,801,000.00

211,376,563.21

3,710,435.31

0.00

207,666,127.90

25-Feb-37

N/A

A2-A

328,732,000.00

288,129,943.45

12,576,964.82

0.00

275,552,978.63

25-Feb-37

N/A

A2-B

38,231,000.00

0.00

38,231,000.00

25-Feb-37

N/A

A2-C

121,034,000.00

0.00

121,034,000.00

25-Feb-37

N/A

A2-D

50,405,000.00

0.00

50,405,000.00

25-Feb-37

N/A

A2-E

59,822,000.00

0.00

59,822,000.00

25-Feb-37

N/A

M-1

30,504,000.00

0.00

30,504,000.00

25-Feb-37

N/A

M-2

28,978,000.00

0.00

28,978,000.00

25-Feb-37

N/A

M-3

18,302,000.00

0.00

18,302,000.00

25-Feb-37

N/A

M-4

14,743,000.00

0.00

14,743,000.00

25-Feb-37

N/A

M-5

15,251,000.00

0.00

15,251,000.00

25-Feb-37

N/A

M-6

14,235,000.00

0.00

14,235,000.00

25-Feb-37

N/A

B-1

13,218,000.00

0.00

13,218,000.00

25-Feb-37

N/A

B-2

12,201,000.00

0.00

12,201,000.00

25-Feb-37

N/A

B-3

10,167,000.00

0.00

10,167,000.00

25-Feb-37

N/A

B-4

10,167,000.00

0.00

10,167,000.00

25-Feb-37

N/A

CE-1

1,016,791,554.00

966,759,857.49

0.00

950,472,457.36

25-Feb-37

N/A

CE-2

1,016,791,554.00

966,759,857.49

0.00

950,472,457.36

25-Feb-37

N/A

100.00

0.00

100.00

25-Feb-37

N/A

0.00

25-Feb-37

N/A

R-X

0.00

25-Feb-37

N/A

Total

986,791,100.00

936,764,606.66

16,287,400.13

0.00

920,477,206.53

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Bond Principal Reconciliation

- - - - - - - - - - - - - - - - L o s s e s - - - - - - - - - - - - - - -

- Credit Support -

Class

Original Class

Balance

Beginning Class

Balance

Scheduled Principal

Payment

Unscheduled

Principal

Payment

Extra

Principal

Payment

Prior

Loss

Reimburs.

Rated

Final

Maturity

Original

Current

Losses

Cumulative

Losses

Interest on

Losses

Ending

Class Balance

Page 12 of 41

24-Jun-2007 02:46

Class

CUSIP

Fitch

Moody's

DBRS

S&P

1248MBAF2

AAA

Aaa

AAA

A2-A

1248MBAG0

AAA

Aaa

AAA

A2-B

1248MBAH8

AAA

Aaa

AAA

A2-C

1248MBAJ4

AAA

Aaa

AAA

A2-D

1248MBAK1

AAA

Aaa

AAA

A2-E

1248MBAL9

AAA

Aaa

AAA

M-1

1248MBAM7

AA+

Aa1

AA High

AA+

M-2

1248MBAN5

AA+

Aa2

AA High

AA+

M-3

1248MBAP0

Aa3

M-4

1248MBAQ8

AA-

AA Low

M-5

1248MBAR6

A+

A High

AA-

M-6

1248MBAS4

A+

B-1

1248MBAT2

A-

Baa1

A Low

A-

B-2

1248MBAU9

BBB+

Baa2

BBB High

BBB+

B-3

1248MBAV7

BBB

Baa3

BBB

B-4

1248MBAW5

CE-1

1248MBAA3

CE-2

1248MBAB1

1248MBAC9

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Ratings Information

NR - Designates that the class was not rated by the rating agency.

(1)

Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be understood that this transmission will generally have been provided to LaSalle within 30 days of the payment

date listed on this statement. Because ratings may have changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not being updated on this report, LaSalle recommends that investors obtain current rating
information directly from the rating agency.

- - - - - - - - - - - - O r i g i n a l R a t i n g s - - - - - - - - - -

- - - - - - - - - - - - - - - - R a t i n g s C h a n g e / C h a n g e D a t e

(1)

- - - - - - - - - - - - - - - -

Fitch

Moody's

DBRS

S&P

Page 13 of 41

24-Jun-2007 02:46

Type

Count

Count (%)

Balance

Balance (%)

Arrears

Arrears (%)

REO Book Value

5345

95.8916%

897,573,337.69

94.4344%

0.00

0.0000%

0.00

122

2.1887%

25,630,097.13

2.6966%

0.00

0.0000%

0.00

0.9150%

13,809,871.48

1.4529%

0.00

0.0000%

0.00

90+

0.3767%

3,849,134.16

0.4050%

0.00

0.0000%

0.00

BKY30

0.0179%

317,249.97

0.0334%

0.00

0.0000%

0.00

BKY60

0.0179%

187,710.50

0.0197%

0.00

0.0000%

0.00

BKY90+

0.0179%

93,534.37

0.0098%

0.00

0.0000%

0.00

F/C90+

0.5741%

9,011,522.06

0.9481%

0.00

0.0000%

0.00

Total (Prior Month End):

5574

100.0000%

950,472,457.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

229

4.1084%

52,899,119.00

5.5656%

0.00

0.0000%

0.00

1511

94.3785%

243,090,261.43

93.1449%

0.00

0.0000%

0.00

2.9357%

8,498,544.36

3.2564%

0.00

0.0000%

0.00

1.1868%

4,081,597.43

1.5639%

0.00

0.0000%

0.00

90+

0.3748%

857,153.83

0.3284%

0.00

0.0000%

0.00

BKY30

0.0625%

317,249.97

0.1216%

0.00

0.0000%

0.00

BKY90+

0.0625%

93,534.37

0.0358%

0.00

0.0000%

0.00

F/C90+

0.9994%

4,042,436.60

1.5489%

0.00

0.0000%

0.00

Total (Prior Month End):

1601

100.0000%

260,980,777.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

5.6215%

17,890,516.00

6.8551%

0.00

0.0000%

0.00

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

End of Month Balance Reporting

F/C Quick Sale

Value

Total

Group 1

Page 14 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

End of Month Balance Reporting

Type

Count

Count (%)

Balance

Balance (%)

Arrears

Arrears (%)

REO Book Value

3834

96.5014%

654,483,076.26

94.9225%

0.00

0.0000%

0.00

1.8877%

17,131,552.77

2.4847%

0.00

0.0000%

0.00

0.8054%

9,728,274.05

1.4109%

0.00

0.0000%

0.00

90+

0.3775%

2,991,980.33

0.4339%

0.00

0.0000%

0.00

BKY60

0.0252%

187,710.50

0.0272%

0.00

0.0000%

0.00

F/C90+

0.4027%

4,969,085.46

0.7207%

0.00

0.0000%

0.00

Total (Prior Month End):

3973

100.0000%

689,491,679.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

139

3.4986%

35,008,603.00

5.0775%

0.00

0.0000%

0.00

F/C Quick Sale

Value

Group 2

Page 15 of 41

24-Jun-2007 02:46

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-Jun-07

5,265

897,573,338

122

25,630,097

13,809,871

3,849,134

598,495

9,011,522

25-May-07

5,403

925,780,876

102

24,943,064

10,554,976

3,412,159

1,788,876

279,907

25-Apr-07

5,512

950,397,679

124

25,648,323

6,857,985

289,923

26-Mar-07

5,699

986,375,837

15,394,877

25-Jun-07

95.83%

94.43%

2.22%

2.70%

0.93%

1.45%

0.38%

0.40%

0.05%

0.06%

0.58%

0.95%

0.00%

25-May-07

96.93%

95.76%

1.83%

2.58%

0.86%

1.09%

0.23%

0.35%

0.00%

0.13%

0.19%

0.02%

0.03%

25-Apr-07

97.35%

96.66%

2.19%

2.61%

0.44%

0.70%

0.00%

0.02%

0.03%

0.00%

26-Mar-07

98.87%

98.46%

1.13%

1.54%

0.00%

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Total (All Loans)

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Page 16 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-Jun-07

1,492

243,090,261

8,498,544

4,081,597

857,154

410,784

4,042,437

25-May-07

1,539

251,453,465

6,762,430

4,049,054

801,175

1,345,182

279,907

25-Apr-07

1,570

257,328,728

8,041,601

2,055,751

289,923

26-Mar-07

1,605

264,278,037

5,862,781

25-Jun-07

94.31%

93.14%

2.97%

3.26%

1.20%

1.56%

0.38%

0.33%

0.13%

0.16%

1.01%

1.55%

0.00%

25-May-07

96.13%

95.00%

2.06%

2.55%

1.12%

1.53%

0.25%

0.30%

0.00%

0.37%

0.51%

0.06%

0.11%

25-Apr-07

97.09%

96.12%

2.23%

3.00%

0.62%

0.77%

0.00%

0.06%

0.11%

0.00%

26-Mar-07

98.47%

97.83%

1.53%

2.17%

0.00%

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Group I

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Page 17 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-Jun-07

3,773

654,483,076

17,131,553

9,728,274

2,991,980

187,711

4,969,085

25-May-07

3,864

674,327,410

18,180,634

6,505,922

2,610,984

443,694

25-Apr-07

3,942

693,068,951

17,606,722

4,802,234

26-Mar-07

4,094

722,097,800

9,532,096

25-Jun-07

96.45%

94.92%

1.92%

2.48%

0.82%

1.41%

0.38%

0.43%

0.03%

0.41%

0.72%

0.00%

25-May-07

97.26%

96.05%

1.74%

2.59%

0.76%

0.93%

0.23%

0.37%

0.00%

0.03%

0.06%

0.00%

25-Apr-07

97.45%

96.87%

2.18%

2.46%

0.37%

0.67%

0.00%

26-Mar-07

99.03%

98.70%

0.97%

1.30%

0.00%

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Group II

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Page 18 of 41

24-Jun-2007 02:46

Balance

25-Jun-07

9,011,522

317,250

187,711

93,534

25-May-07

1,788,876

279,907

25-Apr-07

289,923

26-Mar-07

25-Jun-07

0.00%

0.58%

0.95%

0.00%

0.02%

0.03%

0.02%

0.01%

25-May-07

0.00%

0.13%

0.19%

0.00%

0.02%

0.03%

0.00%

25-Apr-07

0.00%

0.02%

0.03%

0.00%

26-Mar-07

0.00%

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

- - - - - - - - - - - I n F o r e c l o s u r e a n d D e l i n q u e n t - - - - - - - - - - - - -

- - - - - - - - - - - - - - - I n R E O a n d D e l i n q u e n t - - - - - - - - - - - - - -

- - - - - - - - - - - - - I n B a n k r u p t c y a n d D e l i n q u e n t - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

61-90 Days

90 + Days

Total (All Loans)

61-90 Days

90 + Days

Current

31-60 Days

Page 19 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Balance

25-Jun-07

4,042,437

317,250

93,534

25-May-07

1,345,182

279,907

25-Apr-07

289,923

26-Mar-07

25-Jun-07

0.00%

1.01%

1.55%

0.00%

0.06%

0.12%

0.00%

0.06%

0.04%

25-May-07

0.00%

0.37%

0.51%

0.00%

0.06%

0.11%

0.00%

25-Apr-07

0.00%

0.06%

0.11%

0.00%

26-Mar-07

0.00%

- - - - - - - - - - - I n F o r e c l o s u r e a n d D e l i n q u e n t - - - - - - - - - - - - -

- - - - - - - - - - - - - - - I n R E O a n d D e l i n q u e n t - - - - - - - - - - - - - -

- - - - - - - - - - - - - I n B a n k r u p t c y a n d D e l i n q u e n t - - - - - - - - - - - - -

31-60 Days

61-90 Days

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Group I

90 + Days

Current

31-60 Days

61-90 Days

90 + Days

Current

Page 20 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Balance

25-Jun-07

4,969,085

187,711

25-May-07

443,694

25-Apr-07

26-Mar-07

25-Jun-07

0.00%

0.41%

0.72%

0.00%

0.03%

0.00%

25-May-07

0.00%

0.03%

0.06%

0.00%

25-Apr-07

0.00%

26-Mar-07

0.00%

- - - - - - - - - - - I n F o r e c l o s u r e a n d D e l i n q u e n t - - - - - - - - - - - - -

- - - - - - - - - - - - - - - I n R E O a n d D e l i n q u e n t - - - - - - - - - - - - - -

- - - - - - - - - - - - - I n B a n k r u p t c y a n d D e l i n q u e n t - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

61-90 Days

90 + Days

Group II

61-90 Days

90 + Days

Current

31-60 Days

Page 21 of 41

24-Jun-2007 02:46

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

25-Jun-07

5,494

950,472,457

15,598,440

0.00

333

7.85%

7.70%

25-May-07

5,574

966,759,857

15,742,302

0.00

334

7.85%

7.70%

25-Apr-07

5,662

983,193,910

102

17,810,293

0.00

335

7.85%

7.70%

26-Mar-07

5,764

1,001,770,714

14,266,078

0.00

336

7.85%

25-Jun-07

1,582

260,980,778

3,617,979

0.00

345

8.33%

8.18%

25-May-07

1,601

264,691,213

2,934,277

0.00

346

8.33%

8.18%

25-Apr-07

1,617

267,716,003

2,300,015

0.00

347

8.33%

8.18%

26-Mar-07

1,630

270,140,818

3,866,446

0.00

348

8.34%

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

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

Curr Weighted Avg.

Total (All Loans)

Group I

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Page 22 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

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

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

25-Jun-07

3,912

689,491,679

11,980,461

0.00

329

7.67%

7.52%

25-May-07

3,973

702,068,644

12,808,026

0.00

330

7.67%

7.52%

25-Apr-07

4,045

715,477,907

15,510,279

0.00

330

7.67%

7.52%

26-Mar-07

4,134

731,629,896

10,399,632

0.00

331

7.66%

Curr Weighted Avg.

Group II

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Page 23 of 41

24-Jun-2007 02:46

SMM (Single Monthly Mortality)

Total

Current Period

1.62%

3-Month Average

1.67%

6-Month Average

1.61%

12-Month Average

1.61%

Average Since Cut-Off

1.61%

CPR (Conditional Prepayment Rate)

Total

Current Period

17.79%

3-Month Average

18.31%

6-Month Average

17.65%

12-Month Average

17.65%

Average Since Cut-Off

17.65%

PSA (Public Securities Association)

Total

Current Period

296%

3-Month Average

305%

6-Month Average

294%

12-Month Average

294%

Average Since Cut-Off

294%

SMM

Single Monthly Mortality

(Partial and Full Prepayments + Repurchases + Curtailments + Liquidations + Other Prin Proceeds) / (Beginning Collateral Bal - Scheduled Prin)

CPR

Conditional Prepayment Rate

1 - (1 - SMM)^12)

PSA

Public Securities Association

100 * CPR / (0.2 * MIN(30,WAS))

WAS

Weighted Average Seasoning

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

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Prepayment Summary

0.00%

2.43%

4.86%

7.29%

9.71%

12.14%

14.57%

17.00%

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

May-07

Jun-07

0.00%

14.29%

28.57%

42.86%

57.14%

71.43%

85.71%

100.00%

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

May-07

Jun-07

229%

457%

686%

914%

1143%

1371%

1600%

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

May-07

Jun-07

Page 24 of 41

24-Jun-2007 02:46

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

13,000

42,000

553

10.07%

16,297,717

1.71%

14,000

43,000

600

10.26%

17,954,711

1.77%

42,000

62,000

489

8.90%

25,182,416

2.65%

43,000

63,000

508

8.69%

26,709,390

2.63%

62,000

82,000

471

8.57%

34,089,067

3.59%

63,000

83,000

498

8.52%

36,603,676

3.60%

82,000

102,000

455

8.28%

41,752,518

4.39%

83,000

103,000

481

8.23%

44,676,699

4.39%

102,000

122,000

402

7.32%

44,990,785

4.73%

103,000

123,000

435

7.44%

49,053,376

4.82%

122,000

141,000

370

6.73%

48,486,757

5.10%

123,000

143,000

409

6.99%

54,255,136

5.34%

141,000

182,000

708

12.89%

113,970,776

11.99%

143,000

184,000

767

13.12%

124,994,755

12.29%

182,000

223,000

518

9.43%

104,183,122

10.96%

184,000

225,000

555

9.49%

113,163,005

11.13%

223,000

264,000

466

8.48%

112,977,200

11.89%

225,000

266,000

475

8.12%

116,141,835

11.42%

264,000

305,000

295

5.37%

83,805,088

8.82%

266,000

307,000

304

5.20%

86,815,422

8.54%

305,000

347,000

211

3.84%

68,841,131

7.24%

307,000

349,000

231

3.95%

75,723,696

7.45%

347,000

1,000,000

556

10.12%

255,895,880

26.92%

349,000

1,000,000

585

10.00%

270,699,852

26.62%

5,494

100.00%

950,472,457

100.00%

5,848

100.00%

1,016,791,554

100.00%

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

4.00%

6.58%

541

9.85%

106,205,724

11.17%

4.00%

6.55%

547

9.35%

105,066,705

10.33%

6.58%

6.80%

353

6.43%

60,135,443

6.33%

6.55%

6.75%

373

6.38%

67,606,944

6.65%

6.80%

7.02%

573

10.43%

98,658,448

10.38%

6.75%

6.95%

380

6.50%

63,585,801

6.25%

7.02%

7.23%

336

6.12%

61,990,270

6.52%

6.95%

7.16%

557

9.52%

97,713,343

9.61%

7.23%

7.45%

589

10.72%

107,945,425

11.36%

7.16%

7.36%

525

8.98%

91,249,183

8.97%

7.45%

7.69%

361

6.57%

82,265,325

8.66%

7.36%

7.63%

553

9.46%

120,789,465

11.88%

7.69%

8.36%

832

15.14%

186,426,308

19.61%

7.63%

8.30%

906

15.49%

204,585,314

20.12%

8.36%

9.03%

591

10.76%

113,280,827

11.92%

8.30%

8.97%

608

10.40%

116,367,728

11.44%

9.03%

9.70%

311

5.66%

48,332,962

5.09%

8.97%

9.64%

360

6.16%

59,625,112

5.86%

9.70%

10.38%

275

5.01%

35,108,910

3.69%

9.64%

10.31%

288

4.92%

38,175,099

3.75%

10.38%

11.11%

182

3.31%

18,347,990

1.93%

10.31%

11.00%

185

3.16%

19,300,120

1.90%

11.11%

17.13%

550

10.01%

31,774,826

3.34%

11.00%

17.13%

566

9.68%

32,726,739

3.22%

5,494

100.00%

950,472,457

100.00%

5,848

100.00%

1,016,791,554

100.00%

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Mortgage Loan Characteristics Part I

Distribution by Current Ending Principal Balance

Distribution by Cut-off Principal Balance

Distribution by Current Mortgage Rate

Distribution by Original Mortgage Rate

Page 25 of 41

24-Jun-2007 02:46

2,893

475,909,256

50.07%

325.49

7.44%

3,098

512,804,646

50.43%

338.75

7.45%

1,921

444,501,228

46.77%

349.68

8.03%

2,043

472,841,612

46.50%

360.26

7.98%

680

30,061,974

3.16%

212.73

11.64%

707

31,145,296

3.06%

223.44

11.64%

5,494

950,472,457

100.00%

5,848

1,016,791,554

100.00%

4,215

707,551,982

74.44%

332.03

7.82%

4,483

754,494,609

74.20%

343.73

7.80%

612

115,344,277

12.14%

336.42

7.89%

638

121,702,245

11.97%

349.33

7.88%

271

62,960,016

6.62%

340.47

8.00%

299

70,934,354

6.98%

354.33

7.90%

384

62,322,274

6.56%

333.43

7.96%

415

67,211,992

6.61%

344.41

7.89%

2,293,908

0.24%

341.96

8.67%

2,448,353

0.24%

358.11

8.41%

5,494

950,472,457

100.00%

5,848

1,016,791,554

100.00%

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Mortgage Loan Characteristics Part II

Fixed 1st Lien

Distribution by Product Characteristics (Current)

Product Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Adjustable

Fixed 2nd Lien

Total

Distribution by Product Characteristics (Cut-off)

Product Type

# of

Loans

Original Principal

Balance

% of

Balance

WAMM

WAC

Fixed 1st Lien

Adjustable

Fixed 2nd Lien

Total

Multifamily

Condo - Low Facility

Distribution by Property Types (Current)

Property Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

SF Unattached Dwelling

PUD

Condo - High Facility

SF Unattached Dwelling

PUD

Distribution by Property Types (Cut-off)

Property Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Multifamily

Condo - Low Facility

Condo - High Facility

Total

Page 26 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Mortgage Loan Characteristics Part II

5,094

882,513,049

92.85%

332.48

7.81%

5,411

943,458,745

92.79%

344.30

7.78%

337

53,239,381

5.60%

341.43

8.49%

372

58,019,313

5.71%

356.36

8.38%

14,720,027

1.55%

349.18

8.21%

15,313,496

1.51%

360.00

8.21%

5,494

950,472,457

100.00%

5,848

1,016,791,554

100.00%

2,696

533,544,331

56.13%

335.31

7.74%

2,919

579,800,873

57.02%

345.14

7.74%

1,742

282,226,765

29.69%

337.92

8.22%

1,809

293,707,001

28.89%

349.31

8.18%

1,056

134,701,361

14.17%

315.19

7.50%

1,120

143,283,680

14.09%

337.19

7.42%

5,494

950,472,457

100.00%

5,848

1,016,791,554

100.00%

Ending Balance

% of

Balance

WAMM

Owner Occupied - Secondary Residence

Owner Occupied - Primary Residence

Non-Owner Occupied

Total

Refinance/Equity Takeout

Purchase

Refinance/No Cash Out

Total

Distribution by Occupancy Type (Current)

Distribution by Occupancy Type (Cut-off)

Occupancy Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

WAMM

WAC

Total

Owner Occupied - Secondary Residence

Occupancy Type

# of

Loans

Loan Purpose

# of

Loans

Ending Balance

% of

Balance

Distribution by Loan Purpose (Cut-off)

Loan Purpose

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Distribution by Loan Purpose (Current)

Page 27 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Mortgage Loan Characteristics Part II

5,494

950,472,457

100.00%

333.24

7.85%

5,848

1,016,791,554

100.00%

345.22

7.82%

WAMM

WAC

Distribution by Originator Concentration > 10% (Current)

Originator

# of

Loans

Ending Balance

% of

Balance

Unknown

Distribution by Originator Concentration > 10% (Cut-off)

Originator

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Page 28 of 41

24-Jun-2007 02:46

WAMM

WAC

California

779

238,279,273

25.07%

343

7.58%

Florida

603

107,300,153

11.29%

343

8.21%

Texas

718

75,731,407

7.97%

313

8.03%

New York

255

47,957,479

5.05%

315

7.65%

Arizona

249

41,830,153

4.40%

342

7.94%

Washington

161

37,615,352

3.96%

346

7.72%

Maryland

145

33,443,457

3.52%

333

7.71%

Nevada

147

29,478,725

3.10%

341

7.59%

Pennsylvania

222

27,953,987

2.94%

315

7.55%

Virginia

147

26,113,029

2.75%

333

7.79%

Remaining

2,068

284,769,441

29.96%

328

8.02%

WAMM

WAC

California

840

254,672,574

25.05%

354

7.57%

Florida

629

112,108,275

11.03%

353

8.22%

Texas

737

77,923,247

7.66%

332

7.99%

New York

277

52,176,556

5.13%

327

7.60%

Arizona

265

44,263,722

4.35%

352

7.91%

Washington

177

41,420,105

4.07%

354

7.73%

Maryland

175

39,687,722

3.90%

342

7.72%

Illinois

198

31,383,202

3.09%

344

8.11%

Nevada

152

30,539,005

3.00%

353

7.57%

Virginia

164

29,969,213

2.95%

346

7.75%

Remaining

2,234

302,647,934

29.76%

339

7.90%

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Geographic Concentration

Top 10 Current State Concentration

Geographic
Distribution

# of

Loans

Balance

(1)

% of

Balance

(1)

Based on Current Period Ending Principal Balance

Top 10 Original State Concentration

Geographic
Distribution

# of

Loans

Balance

(1)

% of

Balance

Top 10 Current State Concentration

California

New York

Texas

Florida

Virginia

Pennsylvania

Nevada

Maryland

Washington

Arizona

Remaining

Page 29 of 41

24-Jun-2007 02:46

Current Total

Cumulative

C
M
N
O
P

REO
Short Pay
Third Party
Write-off

R
S
T
W

1
2
3
4
5

6
7
8
9

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Current Period Realized Loss Detail

Disclosure Control

Period

Original

Liquidation

Balance

Net Liquidation

Proceeds

Loss-Loan Non-

adjusted

Loss to Trust

Loss-Certs Non-

adjusted

Subsequent

Recov/(Exp)

Loss-Loan

Adjusted

Loss-Certs

Adjusted

Liq Type

Adj Type

Liq. Type Code - Legend
Charge-off
Matured
Repurchase
Note Sale
Paid in Full

Adjustment Legend
Escrow Bal/Adv
MREC
Rest'd Escrow
Replacement Res.
Suspense

Third Party
Charged Off/Matured
Side Note
Manual

Page 30 of 41

24-Jun-2007 02:46

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

25-Jun-07

0.00

25-May-07

0.00

25-Apr-07

0.00

26-Mar-07

0.00

Total

0.00

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Historical Realized Loss Summary

Total (All Loans)

- - - - - - - - - - - - - - - - - C u r r e n t R e a l i z e d L o s s - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - P r e v i o u s L i q u i d a t i o n s / P a y o f f s - - - - - - - - - - - - - -

Claims on Prior

Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

Page 31 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Historical Realized Loss Summary

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

25-Jun-07

0.00

25-May-07

0.00

25-Apr-07

0.00

26-Mar-07

0.00

Total

0.00

Group I

- - - - - - - - - - - - - - - - - C u r r e n t R e a l i z e d L o s s - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - P r e v i o u s L i q u i d a t i o n s / P a y o f f s - - - - - - - - - - - - - -

Claims on Prior

Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

Page 32 of 41

24-Jun-2007 02:46

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Historical Realized Loss Summary

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

25-Jun-07

0.00

25-May-07

0.00

25-Apr-07

0.00

26-Mar-07

0.00

Total

0.00

Group II

- - - - - - - - - - - - - - - - - C u r r e n t R e a l i z e d L o s s - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - P r e v i o u s L i q u i d a t i o n s / P a y o f f s - - - - - - - - - - - - - -

Claims on Prior

Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

Page 33 of 41

24-Jun-2007 02:46

MDR (monthly Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

CDR (Conditional Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

SDA (Standard Default Assumption)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

MDR

Monthly Default Rate

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

CDR

Conditional Default Rate

1 - (1 - MDR)^12

SDA

Standard Default Assumption

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

WAS

Weighted Average Seasoning

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

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Realized Loss Summary

0.00%

0.86%

1.71%

2.57%

3.43%

4.29%

5.14%

6.00%

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

May-07

Jun-07

0.00%

7.14%

14.29%

21.43%

28.57%

35.71%

42.86%

50.00%

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

May-07

Jun-07

286%

571%

857%

1143%

1429%

1714%

2000%

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

May-07

Jun-07

Page 34 of 41

24-Jun-2007 02:47

Total

0.00

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Historical Collateral Level REO Report

Total (All Loans)

Disclosure

Control #

REO Date

City

State

Property Type

Actual Balance

Scheduled

Balance

Recent

Appraisal

Value

Appraisal

Date

Appraisal

Reduction

Amount

Date

Liquidated

Liquidation

Proceeds

Liquidation

Expenses

Realized Loss

Page 35 of 41

24-Jun-2007 02:47

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Historical Collateral Level REO Report

Total

0.00

Group I

Disclosure

Control #

REO Date

City

State

Property Type

Actual Balance

Scheduled

Balance

Liquidation

Proceeds

Liquidation

Expenses

Realized Loss

Recent

Appraisal

Value

Appraisal

Date

Appraisal

Reduction

Amount

Date

Liquidated

Page 36 of 41

24-Jun-2007 02:47

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Historical Collateral Level REO Report

Total

0.00

Group II

Disclosure

Control #

REO Date

City

State

Property Type

Actual Balance

Scheduled

Balance

Recent

Appraisal

Value

Appraisal

Date

Realized Loss

Appraisal

Reduction

Amount

Date

Liquidated

Liquidation

Proceeds

Liquidation

Expenses

Page 37 of 41

24-Jun-2007 02:47

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Material Breaches Detail

Disclosure

Control #

Loan Group #

Ending Principal

Balance

Material Breach

Date

Material Breach Description

Material breaches of pool asset representation or warranties or transaction covenants.

Page 38 of 41

24-Jun-2007 02:47

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Distribution Date: 25-Jun-07

Modified Loan Detail

Disclosure

Control #

Loan Group #

Modified Maturity

Date

Cutoff Maturity

Date

Modification Description

Modifications include any extensions or waivers to the mortgage loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time.

Page 39 of 41

24-Jun-2007 02:47

Substitution Code

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Adjusted for Principal

Distribution Date: 25-Jun-07

Substitution Detail History

- - - Loans Substituted Into Pool - - -

- - - - - - - - - - Loans Substituted Out of Pool - - - - - - - - - -

Investor #

Period

Beginning Principal Balance

Investor #

Period

Beginning Principal

Balance

Page 40 of 41

24-Jun-2007 02:47

C-BASS 2007-CB2 Trust

C-BASS Mortgage Loan Asset-Backed Certificates

Difference Into vs.

Out

Distribution Date: 25-Jun-07

Substitution Detail History Summary

- - - Loans Substituted Into Pool - - -

- - - Loans Substituted Out of Pool - - -

Period

Count

Beginning Principal Balance

Count

Beginning Principal Balance

Adjusted for Principal

Page 41 of 41

24-Jun-2007 02:47

C-BASS Mortgage Loan Trust 2007-CB2 10-D