Item 1. Business. Omitted.
Item 1A.
Item 1A. Risk Factors. Omitted.
Item 1B.
Item 1B. Unresolved Staff Comments. None.
Item 2.
Item 2. Properties. Omitted.
Item 3.
Item 3. Legal Proceedings. Omitted.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders. Omitted.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Omitted.
Item 6.
Item 6. Selected Financial Data. Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation. Omitted.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk. Omitted.
Item 8.
Item 8. Financial Statements and Supplementary Data. Omitted.
Item 9.
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. Omitted.
Item 9A.
Item 9A. Controls and Procedures. Omitted.
Item 9A(T) Controls and Procedures. Omitted.
Item 9B.
Item 9B. Other Information. None.
PART III
Item 10.
Item 10. Directors, Executive Officers, and Corporate Governance. Omitted.
Item 11.
Item 11. Executive Compensation. Omitted.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. Omitted.
Item 13.
Item 13. Certain Relationships, Related Transactions, and Director Independence. Omitted.
Item 14.
Item 14. Principal Accounting Fees and Services. Omitted.
SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL INSTRUCTION J(2) TO FORM 10-K.
Item 1112(b) of Regulation AB. Significant Obligors of Pool Assets (Financial Information).
None.
Item 1114(b)(2) and Item 1115(b) of Regulation AB. Significant Enhancement Provider Financial Information
Not applicable.
Item 1117 of Regulation AB. Legal Proceedings.
None.
Item 1119 of Regulation AB. Affiliations and Certain Relationships and Related Transactions. None, other than disclosed in prospectus.
Item 1122 of Regulation AB. Compliance with Applicable Servicing Criteria The assessment of compliance of Litton Loan Servicing LP ("Litton") has disclosed material noncompliance with criteria 1122(d)(2)(vii)(D) and 1122(d)(4)(ix). Certain investor bank account reconciliations included certain reconciling items that were not resolved within 90 calendar days of their original identification on eleven of sixty-three investor bank account reconciliations. The sum of the reconciling items for those eleven reconciliations was $216,950.
Also, among a sample of sixty-five adjustable rate mortgages there were two instances where certain adjustable rate mortgages for which the interest rate reset in the servicing system did not agree to interest rates in the appropriate source index per the borrowers note documents. These were the result of incorrect information transferring from the prior servicer. Additionally, the same sixty-five mortgages included one instance where the adjustable rate mortgage payment change date in the servicing system did not agree to the loan documents.
See Item 15, exhibit 33 and 34.
Item 1123 of Regulation AB. Servicer Compliance Statement. See Item15, Exhibit 35
PART IV Item 15.
Item 15. Exhibits, Financial Statement Schedules. a) 1. Not Applicable. 2. Not Applicable. 3. Exhibit 4 (a) Pooling and Servicing Agreement (filed as an exhibit on Form 8-K on March 16, 2006 and incorporated by reference herein). Exhibit 31 302 Sarbanes-Oxley Certification
Exhibit 33 Item 1122 Compliance with Applicable Servicing Criteria - Assessments a) Litton Loan Servicing LP, as Servicer b) U.S. Bank National Association, as Trustee c) The Bank of New York, as Custodian Exhibit 34 Item 1122 Compliance with Applicable Servicing Criteria - Attestations a) Litton Loan Servicing LP, as Servicer b) U.S. Bank National Association, as Trustee c) The Bank of New York, as Custodian Exhibit 35 Item 1123 Servicer Compliance Statement a) Litton Loan Servicing LP, as Servicer Exhibit 99 Credit Support Annex, Group 1 Senior Cap Agreement and Mezzanine Cap Agreement (filed as an exhibit on Form 8-K on March 16, 2006 and Incorporated by reference herein). b) See 15(a)(3) above. c) Not Applicable.
SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
C-BASS 2006-CB2 Trust by: Litton Loan Servicing LP, as Servicer
By (Signature and Title): /s/: Elizabeth Folk Elizabeth Folk Senior Vice President and Chief Financial Officer (senior officer in charge of the servicing function of the servicer) Date: 3/29/2007
Supplemental information to be furnished with reports filed pursuant to section 15(d) of the Act by Registrants which have not registered securities pursuant to Section 12 of the Act.
No annual report, proxy statement, form of proxy or other proxy solicitating material has been sent to certificateholders, and the registrant does not presently contemplate sending any such materials subsequent to the filing of this report.
EXHIBIT INDEX
EXHIBIT DESCRIPTION
Exhibit 4 (a) Pooling and Servicing Agreement (filed as an exhibit on Form 8-K on March 16, 2006 and incorporated by reference herein). Exhibit 31 302 Sarbanes-Oxley Certification Exhibit 33 Item 1122 Compliance with Applicable Servicing Criteria - Assessments a) Litton Loan Servicing LP, as Servicer b) U.S. Bank National Association, as Trustee c) The Bank of New York, as Custodian Exhibit 34 Item 1122 Compliance with Applicable Servicing Criteria - Attestations a) Litton Loan Servicing LP, as Servicer b) U.S. Bank National Association, as Trustee c) The Bank of New York, as Custodian Exhibit 35 Item 1123 Servicer Compliance Statement a) Litton Loan Servicing LP, as Servicer Exhibit 99 Credit Support Annex, Group 1 Senior Cap Agreement and Mezzanine Cap Agreement (filed as an exhibit on Form 8-K on March 16, 2006 and incorporated by reference herein).