UNITED STATES
                             SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C. 20549



                                          FORM 10-K/A
                                        Amendment No. 1


      The registrant is filing this Form 10-K/A to replace Exhibits 31, 33(a)
      and 34(a) to the original Form 10-K filed on April 2, 2007. American
      Security Insurance Company, Standard Guaranty Insurance Company and
      TrackSure Insurance Agency, Inc. (formerly, "Safeco Financial Institution
      Solutions, Inc.") (affiliates of Assurant Inc., collectively, the
      "Asserting Party") recently provided the registrant with a restated
      report on assessment of compliance with servicing criteria for
      asset-backed securities and a related attestation. In the original
      assessment previously provided to the registrant, the Asserting Party
      excluded Item 1122(d)(4)(xii)from the scope of its assessment of
      compliance. The Asserting Party recently provided the registrant with a
      restated report on assessment of compliance that assesses the Asserting
      Party's compliance with Item 1122(d)(4)(xii) and identifies a material
      instance of noncompliance with this criterion. This material instance of
      noncompliance is noted in this Form 10-K/A under "Item 1122 of Regulation
      AB, Compliance with Applicable Servicing Criteria" under "Additional
      Disclosure Items Pursuant to General Instruction J." The registrant has
      included this restated report on assessment of compliance under Exhibit
      33(a), the related attestation under Exhibit 34(a) and a revised Rule
      13a-14(d)/15d-14(d) Certification under Exhibit 31. This Form 10-K/A does
      not otherwise amend the original Form 10-K filed with the Securities and
      Exchange Commission on April 2, 2007.



  (Mark one)

  /X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934
      For the fiscal year ended December 31, 2006

      OR



  / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934


       Commission file number:  333-130373-13

       MASTR Adjustable Rate Mortgages Trust 2006-OA2
       (exact name of issuing entity as specified in its charter)

       Mortgage Asset Securitization Transactions, Inc. (depositor)
       (exact name of the registrant as specified in its charter)

       UBS Real Estate Securities Inc.
       (exact name of the sponsor as specified in its charter)


  Delaware                                          06-1204982
  (State or other jurisdiction of                   (I.R.S. Employer
  incorporation or organization)                    Identification No.)



   1285 Avenue of the Americas
   New York, NY                                10019
  (Address of principal executive offices)    (Zip Code)


  Registrant's telephone number, including area code: (212) 713-2000


  Securities registered pursuant to Section 12(b) of the Act:

        NONE.


  Securities registered pursuant to Section 12(g) of the Act:

        NONE.


  Indicate by check mark if the registrant is a well-known seasoned issuer,
  as defined in Rule 405 of the Securities Act.

        Yes  ___     No  X



  Indicate by check mark if the registrant is not required to file reports
  pursuant to Section 13 or Section 15(d) of the Act.

        Yes  ___     No  X


  Indicate by check mark whether the registrant (1) has filed all reports
  required to be filed by Section 13 or 15(d) of the Securities Exchange
  Act of 1934 during the preceding 12 months (or for such shorter period
  that the registrant was required to file such reports), and (2) has been
  subject to such filing requirements for the past 90 days.

        Yes  X       No  ___


  Indicate by check mark if disclosure of delinquent filers pursuant to
  Item 405 of Regulation S-K ( 229.405 of this chapter) is not contained
  herein, and will not be contained, to the best of registrant's knowledge,
  in definitive proxy or information statements incorporated by reference
  in Part III of this Form 10-K or any amendment to this Form 10-K.

        Not applicable.


  Indicate by check mark whether the registrant is a large accelerated filer,
  an accelerated filer, or a non-accelerated filer. See definition of
  "accelerated filer and large accelerated filer" in Rule 12b-2 of the
  Exchange Act. (Check one):


  Large accelerated filer ___  Accelerated filer ___  Non-accelerated filer X


  Indicate by check mark whether the registrant is a shell company (as
  defined in Rule 12b-2 of the Act).

        Yes  ___     No  X


  State the aggregate market value of the voting and non-voting common
  equity held by non-affiliates computed by reference to the price at which
  the common equity was last sold, or the average bid and asked price of
  such common equity, as of the last business day of the registrant's most
  recently completed second fiscal quarter.

        Not applicable.


  Indicate by check mark whether the registrant has filed all documents and
  reports required to be filed by Section 12, 13 or 15(d) of the Securities
  Exchange Act of 1934 subsequent to the distribution of securities under a
  plan confirmed by a court.

         Not Applicable.


  Indicate the number of shares outstanding of each of the registrant's classes
  of common stock, as of December 31, 2006.

         Not Applicable.



     Documents Incorporated by Reference

  List hereunder the following documents if incorporated by reference and
  the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the
  document is incorporated: (1)Any annual report to security holders; (2)
  Any proxy or information statement; and (3)Any prospectus filed pursuant
  to Rule 424(b) or (c) under the Securities Act of 1933. The listed
  documents should be clearly described for identification purposes (e.g.,
  annual report to security holders for fiscal year ended December 24, 1980).

        Certain information is incorporated by reference below under
        Additional Disclosure Items Pursuant to General Instruction J.





                                   PART I

  Item 1.  Business.

            Not Applicable.


  Item 1A.  Risk Factors.

            Not Applicable.


  Item 1B.  Unresolved Staff Comments.

            None.


  Item 2.  Properties.

            Not Applicable.


  Item 3.  Legal Proceedings.

            Not Applicable.


  Item 4.  Submission of Matters to a Vote of Security Holders.

            Not Applicable.




                                PART II

  Item 5. Market for Registrants Common Equity, Related Stockholder
          Matters and Issuer Purchases of Equity Securities.

            Not Applicable.


  Item 6.  Selected Financial Data.

            Not Applicable.


  Item 7.  Management's Discussion and Analysis of Financial Condition and
           Results of Operations.

            Not Applicable.


  Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

            Not Applicable.


  Item 8.  Financial Statements and Supplementary Data.

            Not Applicable.


  Item 9.  Changes in and Disagreements With Accountants on Accounting and
           Financial Disclosure.

            Not Applicable.


  Item 9A. Controls and Procedures.

             Not Applicable.


  Item 9A(T). Controls and Procedures.

            Not Applicable.


  Item 9B. Other Information.

            None.




                                PART III

  Item 10. Directors, Executive Officers and Corporate Governance.

            Not Applicable.


  Item 11. Executive Compensation.

            Not Applicable.


  Item 12. Security Ownership of Certain Beneficial Owners and
           Management and Related Stockholder Matters.

             Not Applicable.


  Item 13. Certain Relationships and Related Transactions, and Director
           Independence.

            Not Applicable.


  Item 14. Principal Accounting Fees and Services.

            Not Applicable.





        ADDITIONAL DISCLOSURE ITEMS PURSUANT TO GENERAL INSTRUCTION J


  Item 1112(b) of Regulation AB, Significant Obligor Financial Information.

            None.


  Item 1114(b)(2) and 1115(b) of Regulation AB, Significant Enhancement
             Provider Financial Information.

        The Consolidated Balance Sheets as of December 31, 2006 and 2005, and
        the Consolidated Statements of Operations and Comprehensive Income,
        Consolidated Statements of Changes in Shareholder's Equity, and
        Consolidated Statements of Cashflows for each of the three years in
        the period ended December 31, 2006, all of Financial Security Assurance
        Inc. and its subsidiaries are incorporated herein by reference from
        Exhibit 99.1 of the Annual Report on Form 10-K of Financial Security
        Assurance Holdings Ltd.


  Item 1117 of Regulation AB, Legal Proceedings.

             None.


  Item 1119 of Regulation AB, Affiliations and Certain Relationships and
             Related Transactions.

            None.


  Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria.

            Reports on assessment of compliance with the servicing criteria
            for asset-backed securities and the related attestation reports
            on such assessments of compliance are attached hereto under
            Item 15.


            The following parties have reported one or more instances of
            material noncompliance with applicable servicing criteria in their
            reports on assessment of compiance:

            American Security Insurance Company's, Standard Guaranty Insurance
            Company's and TrackSure Insurance Agency, Inc.'s (formerly, "Safeco
            Financial Institution Solutions, Inc.") (affiliates of Assurant
            Inc., and collectively, the "Asserting Party") report on
            assessment of compliance with servicing criteria and the related
            registered public accounting firm's attestation report identify the
            following material instance of noncompliance with the servicing
            criteria: the Asserting Party did not have, during the reporting
            period, sufficient policies and procedures to capture the
            information with respect to the platform transactions necessary to
            determine, in compliance with section 1122(d)(4)(xii), whether any
            late payment penalties in connection with any payment to be made on
            behalf of an obligor are paid from the servicer's funds and are not
            charged to the obligor, unless the late payment was due to the
            obligor's error or omission.

            The 1122 statements for First American Real Estate Solutions of
            Texas, L.P. (as Sub-Contractor for Cenlar, FSB) has disclosed the
            following material instance of noncompliance with the servicing
            criteria set forth in Item 1122(d)(2)(vii)(B) of Regulation AB
            applicable to the Company during year ended December 31, 2006.
            Account reconciliations for all asset-backed securities related bank
            accounts were not prepared within 30 calendar days after the bank
            statement cutoff date, or such other number of days specified in the
            transaction agreements as required by Item 1122(d)(2)(vii)(B) of
            Regulation AB.

            The 1122 statements for Wells Fargo Bank, National Association
            (Corporate Trust Services) has disclosed material noncompliance with
            criterion 1122(d)(3)(i), as applicable to the Company during the
            twelve months ended December 31. 2006.  Certain monthly investor or
            remittance reports included errors in the calculation and/or the
            reporting of delinquencies for the pool assets.


            Although each servicing criterion required by Item 1122(d) of
            Regulation AB is addressed in one or more of the Assessments of
            Compliance with Servicing Criteria and related Attestation Reports
            included with this report, the Servicers, Cenlar, FSB, Countrywide
            Home Loans Servicing L.P., GMAC Mortgage, LLC f/k/a GMAC Mortgage
            Corporation and IndyMac Bank, F.S.B., Assessments of Compliance and
            related Attestation Reports did not address each of the servicing
            criteria that the Servicers were required to address under the terms
            of the related Servicing Agreements.  The Servicers have not
            identified such failure to provide an Assessment and Attestation
            for these items as a material failure to fulfill its obligations
            under the related servicing agreements in the Servicer's Compliance
            Statements provided under Item 1123 of Regulation AB, because the
            Servicers assert that those items are not applicable to the
            Servicers.


  Item 1123 of Regulation AB, Servicer Compliance Statement.

            Servicer compliance statements are attached hereto under Item 15.





                                PART IV



  Item 15. Exhibits, Financial Statement Schedules.

   (a) Exhibits

    (4)  The Pooling and Servicing Agreement dated as of October 1, 2006 among
         Mortgage Asset Securitization Transactions, Inc., as depositor, UBS
         Real Estate Securities Inc., as transferor, Wells Fargo Bank, N.A., as
         master servicer, trust administrator and custodian, U.S. Bank National
         Association, as trustee and Clayton Fixed Income Services Inc., as
         credit risk manager (incorporated herein by reference from Exhibit 4.1
         of the Current Report on Form 8-K of the registrant, as filed with the
         Commission on November 30, 2006, and as amended and supplemented by the
         Current Report on Form 8K/A dated February 16, 2007).

    (10) Incorporated by reference as Exhibit (4).

    (31) Rule 13a-14(d)/15d-14(d) Certifications.

    (33) Reports on assessment of compliance with servicing criteria for
         asset-backed securities.

      <TABLE>

      
         <c>
      a) Assurant Inc. as Sub-Contractor for Cenlar, FSB <F1>
      b) Cenlar, FSB, as Servicer <F1>
      c) Countrywide Home Loans Servicing L.P., as Servicer <F1>
      d) Deutsche Bank National Trust Company as Sub-Contractor for IndyMac Bank, F.S.B. <F1>
      e) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Cenlar, FSB <F1>
      f) GMAC Mortgage, LLC f/k/a GMAC Mortgage Corporation, as Servicer <F1>
      g) IndyMac Bank, F.S.B., as Servicer <F1>
      h) Newport Management Corporation as Sub-Contractor for IndyMac Bank, F.S.B. <F1>
      i) Wells Fargo Bank, N.A., as Master Servicer <F1>
      j) Wells Fargo Bank, N.A., as Paying Agent <F1>
      k) Wells Fargo Bank, N.A., as Trust Administrator <F1>
      l) Wells Fargo Bank, N.A., as Custodian <F1>

      </TABLE>

     (34) Attestation reports on assessment of compliance with servicing
          criteria for asset-backed securities.

      <TABLE>

      
        <c>
      a) Assurant Inc. as Sub-Contractor for Cenlar, FSB <F1>
      b) Cenlar, FSB, as Servicer <F1>
      c) Countrywide Home Loans Servicing L.P., as Servicer <F1>
      d) Deutsche Bank National Trust Company as Sub-Contractor for IndyMac Bank, F.S.B. <F1>
      e) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Cenlar, FSB <F1>
      f) GMAC Mortgage, LLC f/k/a GMAC Mortgage Corporation, as Servicer <F1>
      g) IndyMac Bank, F.S.B., as Servicer <F1>
      h) Newport Management Corporation as Sub-Contractor for IndyMac Bank, F.S.B. <F1>
      i) Wells Fargo Bank, N.A., as Master Servicer <F1>
      j) Wells Fargo Bank, N.A., as Paying Agent <F1>
      k) Wells Fargo Bank, N.A., as Trust Administrator <F1>
      l) Wells Fargo Bank, N.A., as Custodian <F1>

      </TABLE>

     (35) Servicer compliance statement.

      <TABLE>

      
         <c>

      a) Countrywide Home Loans Servicing L.P., as Servicer <F1>
      b) IndyMac Bank, F.S.B., as Servicer <F1>
      c) Wells Fargo Bank, N.A., as Master Servicer <F1>
      d) Wells Fargo Bank, N.A., as Trust Administrator <F1>

      </TABLE>


    (99.1) The Consolidated Balance Sheets as of December 31, 2006 and 2005, and
        the Consolidated Statements of Operations and Comprehensive Income,
        Consolidated Statements of Changes in Shareholder's Equity, and
        Consolidated Statements of Cashflows for each of the three years in
        the period ended December 31, 2006, all of Financial Security Assurance
        Inc. and its subsidiaries are incorporated herein by reference from
        Exhibit 99.1 of the Annual Report on Form 10-K of Financial Security
        Assurance Holdings Ltd.


   (b) Exhibits identified in paragraph (a) above.

   (c) Not Applicable.


  <F1> Filed herewith.






                                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.



    MASTR Adjustable Rate Mortgages Trust 2006-OA2
    (Issuing Entity)

    Wells Fargo Bank, N.A.
    (Master Servicer)

    /s/ John Lingenfelter
    John Lingenfelter, Vice President
   (senior officer in charge of the servicing function of the master servicer)

    Date: May 30, 2008






  Exhibit Index

  Exhibit No.

    (4)  The Pooling and Servicing Agreement dated as of October 1, 2006 among
         Mortgage Asset Securitization Transactions, Inc., as depositor, UBS
         Real Estate Securities Inc., as transferor, Wells Fargo Bank, N.A., as
         master servicer, trust administrator and custodian, U.S. Bank National
         Association, as trustee and Clayton Fixed Income Services Inc., as
         credit risk manager (incorporated herein by reference from Exhibit 4.1
         of the Current Report on Form 8-K of the registrant, as filed with the
         Commission on November 30, 2006, and as amended and supplemented by the
         Current Report on Form 8K/A dated February 16, 2007).

    (10) Incorporated by reference as Exhibit (4).

    (31) Rule 13a-14(d)/15d-14(d) Certifications.

    (33) Reports on assessment of compliance with servicing criteria for
         asset-backed securities.

      <TABLE>

      
        <c>
      a) Assurant Inc. as Sub-Contractor for Cenlar, FSB
      b) Cenlar, FSB, as Servicer
      c) Countrywide Home Loans Servicing L.P., as Servicer
      d) Deutsche Bank National Trust Company as Sub-Contractor for IndyMac Bank, F.S.B.
      e) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Cenlar, FSB
      f) GMAC Mortgage, LLC f/k/a GMAC Mortgage Corporation, as Servicer
      g) IndyMac Bank, F.S.B., as Servicer
      h) Newport Management Corporation as Sub-Contractor for IndyMac Bank, F.S.B.
      i) Wells Fargo Bank, N.A., as Master Servicer
      j) Wells Fargo Bank, N.A., as Paying Agent
      k) Wells Fargo Bank, N.A., as Trust Administrator
      l) Wells Fargo Bank, N.A., as Custodian

      </TABLE>

     (34) Attestation reports on assessment of compliance with servicing
          criteria for asset-backed securities.

      <TABLE>

      
        <c>
      a) Assurant Inc. as Sub-Contractor for Cenlar, FSB
      b) Cenlar, FSB, as Servicer
      c) Countrywide Home Loans Servicing L.P., as Servicer
      d) Deutsche Bank National Trust Company as Sub-Contractor for IndyMac Bank, F.S.B.
      e) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Cenlar, FSB
      f) GMAC Mortgage, LLC f/k/a GMAC Mortgage Corporation, as Servicer
      g) IndyMac Bank, F.S.B., as Servicer
      h) Newport Management Corporation as Sub-Contractor for IndyMac Bank, F.S.B.
      i) Wells Fargo Bank, N.A., as Master Servicer
      j) Wells Fargo Bank, N.A., as Paying Agent
      k) Wells Fargo Bank, N.A., as Trust Administrator
      l) Wells Fargo Bank, N.A., as Custodian

      </TABLE>

     (35) Servicer compliance statement.

      <TABLE>

      
         <c>
      a) Countrywide Home Loans Servicing L.P., as Servicer
      b) IndyMac Bank, F.S.B., as Servicer
      c) Wells Fargo Bank, N.A., as Master Servicer
      d) Wells Fargo Bank, N.A., as Trust Administrator

      </TABLE>


   (99.1) The Consolidated Balance Sheets as of December 31, 2006 and 2005, and
        the Consolidated Statements of Operations and Comprehensive Income,
        Consolidated Statements of Changes in Shareholder's Equity, and
        Consolidated Statements of Cashflows for each of the three years in
        the period ended December 31, 2006, all of Financial Security Assurance
        Inc. and its subsidiaries are incorporated herein by reference from
        Exhibit 99.1 of the Annual Report on Form 10-K of Financial Security
        Assurance Holdings Ltd.