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



                                       FORM 10-K/A
                                     Amendment No. 2


      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 March 30, 2007 and the
      amended 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 on March 30, 2007 and the amended 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:  333-124678-23

       MASTR Second Lien Trust 2006-1
       (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).

        Not applicable.




                                   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.


Recent Events Relating to Fremont Investment & Loan

         Pursuant to a Form 12b-25 filed on March 2, 2007, Fremont General
Corporation ("Fremont General"), the parent of Fremont Investment & Loan
("Fremont"), announced that it was delaying the filing of its Annual Report on
Form 10-K for the fiscal year ended December 31, 2006.

         Fremont General also announced that, in light of the current operating
environment for subprime mortgage lenders and recent legislative and regulatory
events, Fremont intends to exit its subprime residential real estate lending
business. Fremont General is are engaged in discussions with various parties
regarding the sale or other disposition of the residential loan origination
platform and has engaged Credit Suisse Securities LLC in connection therewith;
however, there can be no assurance that Fremont General or its affiliates will
be able to enter into any transaction involving its residential loan origination
platform.

         Additionally, on March 7, 2006, Fremont General announced that it,
Fremont and Fremont General's wholly owned subsidiary, Fremont General Credit
Corporation, have consented to the terms of a cease and desist order issued by
the Federal Deposit Insurance Corporation without admitting to the allegations
contained therein. The cease and desist order requires, among other things,
Fremont to cease and desist from the following:

      * Operating with management whose policies and practices are
        detrimental to Fremont;

      * Operating Fremont without effective risk management policies and
        procedures in place in relation to Fremont's brokered subprime
        mortgage lending and commercial real estate construction lending
        businesses;

      * Operating with inadequate underwriting criteria and excessive risk in
        relation to the kind and quality of assets held by Fremont;

      * Operating without an accurate, rigorous and properly documented
        methodology concerning its allowance for loan and lease losses;

      * Operating with a large volume of poor quality loans;

      * Engaging in unsatisfactory lending practices;

      * Operating without an adequate strategic plan in relation to the
        volatility of Fremont's business lines and the kind and quality of
        assets held by Fremont;

      * Operating with inadequate capital in relation to the kind and quality
        of assets held by Fremont;

      * Operating in such a manner as to produce low and unsustainable earnings;

      * Operating with inadequate provisions for liquidity in relation to the
        volatility of Fremont's business lines and the kind and quality of
        assets held by Fremont;

      * Marketing and extending adjustable-rate mortgage products to subprime
        borrowers in an unsafe and unsound manner that greatly increases the
        risk that borrowers will default on the loans or otherwise cause losses
        to Fremont, including (1) adjustable-rate mortgage products that
        qualify borrowers for loans with low initial payments based on an
        introductory rate that will expire after an initial period, without
        adequate analysis of the borrower's ability to repay at the fully
        indexed rate, (2) adjustable-rate mortgage products containing features
        likely to require frequent refinancing to maintain affordable monthly
        payment or to avoid foreclosure, and (3) loans or loan arrangements
        with loan-to-value ratios approaching or exceeding 100 percent of the
        value of the collateral;

      * Making mortgage loans without adequately considering the borrower's
        ability to repay the mortgage according to its terms;

      * Operating in violation of Section 23B of the Federal Reserve Act, in
        that Fremont engaged in transactions with its affiliates on terms and
        under circumstances that in good faith would not be offered to, or
        would not apply to, nonaffiliated companies; and

      * Operating inconsistently with the Federal Deposit Insurance
        Corporation's Interagency Advisory on Mortgage Banking and Interagency
        Expanded Guidance for Subprime Lending Programs.

         The cease and desist order also requires Fremont to take a number of
steps, including (1) having and retaining qualified management; (2) limiting
Fremont General's and Fremont General Credit Corporation's representation on
Fremont's board of directors and requiring that independent directors comprise a
majority of Fremont's board of directors; (3) revising and implementing written
lending policies to provide effective guidance and control over Fremont's
residential lending function; (4) revising and implementing policies governing
communications with consumers to ensure that borrowers are provided with
sufficient information; (5) implementing control systems to monitor whether
Fremont's actual practices are consistent with its policies and procedures; (6)
implementing a third-party mortgage broker monitoring program and plan; (7)
developing a five-year strategic plan, including policies and procedures for
diversifying Fremont's loan portfolio; (8) implementing a policy covering
Fremont's capital analysis on subprime residential loans; (9) performing
quarterly valuations and cash flow analyses on Fremont's residual interests and
mortgage servicing rights from its residential lending operation, and obtaining
annual independent valuations of such interests and rights; (10) limiting
extensions of credit to certain commercial real estate borrowers; (11)
implementing a written lending and collection policy to provide effective
guidance and control over Fremont's commercial real estate lending function,
including a planned material reduction in the volume of funded and unfunded
nonrecourse lending and loans for condominium conversion and construction as a
percentage of Tier I capital; (12) submitting a capital plan that will include a
Tier I capital ratio of not less than 14% of Fremont's total assets; (13)
implementing a written profit plan; (14) limiting the payment of cash dividends
by Fremont without the prior written consent of the Federal Deposit Insurance
Corporation and the Commissioner of the California Department of Financial
Institutions; (15) implementing a written liquidity and funds management policy
to provide effective guidance and control over Fremont's liquidity position and
needs; (16) prohibiting the receipt, renewal or rollover of brokered deposit
accounts without obtaining a Brokered Deposit Waiver approved by the Federal
Deposit Insurance Corporation; (17) reducing adversely classified assets; and
(18) implementing a comprehensive plan for the methodology for determining the
adequacy of the allowance for loan and lease losses.

         Further, Fremont General is analyzing, in connection with the
preparation of Fremont General's consolidated financial statements as of and for
the period ended December 31, 2006, the Federal Deposit Insurance Corporation's
criticism with respect to Fremont General's methodology for determining the
carrying value of Fremont General's residential real estate loans held for sale.

         In addition, on March 5, 2007, Moody's Investors Service, Inc.
downgraded Fremont's residential primary servicer rating for subprime mortgage
loans to "SQ4+" from "SQ3+" and placed such rating on review for possible
further downgrade and on March 6, 2007, Fitch Ratings, Inc. downgraded Fremont's
residential primary servicer rating for subprime mortgage loans to "RPS4" from
"RPS3+" and placed such rating on "Watch Negative", indicating that further
downgrades of such rating are possible.


  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 Irwin Union Bank and Trust Company has
            disclosed the following material noncompliance with servicing
            criteria 1122(d)(2)(vii) applicable to the Company during the nine
            month period ended December 31, 2006. The Company failed to prepare
            bank account reconciliations within 30 days after the bank statement
            cutoff date.

            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 Servicer's, Cenlar FSB, Assessment
            of Compliance and related Attestation Report did not address each
            of the servicing criteria that the Servicer was required to address
            under the terms of the related Servicing Agreement. The Servicer
            has 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 agreement in the Servicer's
            Compliance Statement provided under Item 1123 of Regulation AB,
            because the Servicer asserts that those items are not applicable to
            the Servicer.


  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 February 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, and JPMorgan Chase
         Bank, N.A. as trustee (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 March 14, 2006 and as amended and supplemented by the
         Current Report on Form 8-K/A dated April 6, 2006 and July 20, 2006).

    (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 Sub-Servicer for Irwin Union Bank and Trust <F1>
      c) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor
         for Cenlar, FSB <F1>
      d) Irwin Union Bank and Trust, as Servicer <F1>
      e) Wells Fargo Bank, N.A., as Master Servicer and Trust Administrator <F1>
      f) 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 Sub-Servicer for Irwin Union Bank and Trust <F1>
      c) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor
         for Cenlar, FSB <F1>
      d) Irwin Union Bank and Trust, as Servicer <F1>
      e) Wells Fargo Bank, N.A., as Master Servicer and Trust Administrator <F1>
      f) Wells Fargo Bank, N.A., as Custodian <F1>

      </TABLE>

     (35) Servicer compliance statement.

      <TABLE>

      
         <c>
      a) Cenlar, FSB, as Sub-Servicer for Irwin Union Bank and Trust <F1>
      b) Irwin Union Bank and Trust, as Servicer <F1>
      c) Wells Fargo Bank, N.A., as Master Servicer <F1>
       <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 Second Lien Trust 2006-1
    (Issuing Entity)

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

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

    Date: May 28, 2008




  Exhibit Index

  Exhibit No.

    (4)  The Pooling and Servicing Agreement dated as of February 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, and JPMorgan Chase
         Bank, N.A. as trustee (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 March 14, 2006 and as amended and supplemented by the
         Current Report on Form 8-K/A dated April 6, 2006 and July 20, 2006).

    (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 Sub-Servicer for Irwin Union Bank and Trust
      c) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor
         for Cenlar, FSB
      d) Irwin Union Bank and Trust, as Servicer
      e) Wells Fargo Bank, N.A., as Master Servicer and Trust Administrator
      f) 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 Sub-Servicer for Irwin Union Bank and Trust
      c) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor
         for Cenlar, FSB
      d) Irwin Union Bank and Trust, as Servicer
      e) Wells Fargo Bank, N.A., as Master Servicer
      f) Wells Fargo Bank, N.A., as Custodian

      </TABLE>

     (35) Servicer compliance statement.

      <TABLE>

      
         <c>
      a) Cenlar, FSB, as Sub-Servicer for Irwin Union Bank and Trust
      b) Irwin Union Bank and Trust, as Servicer
      c) Wells Fargo Bank, N.A., as Master Servicer


</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.