Securitized Asset Backed Receivables LLC Trust 2007-NC2

Mortgage Pass-Through Certificates

October 25, 2007 Distribution

External Parties

Table of Contents

Page

Servicer(s)

1. Certificate Payment Report

Barclays Capital Real Estate Inc. d/b/a HomEq Servicing

2. Collection Account Report

3. Credit Enhancement Report

4. Collateral Report

Underwriter(s)

5. Delinquency Report

Barclays Capital Inc.

6. REO Report

7. Foreclosure Report

Swap Counterparty

8. Prepayment Report

Barclays Bank PLC

9. Prepayment Detail Report

10. Realized Loss Report

Cap Provider

11. Realized Loss Detail Report

Barclays Bank PLC

12. Triggers and Adj. Cert. Report

13. Additional Certificate Report

14. Other Related Information

Total Number of Pages

Dates

Contacts

Cut-Off Date:

February 01, 2007

Amy Stoddard

Close Date:

February 27, 2007

Administrator

First Distribution Date:

March 26, 2007

(714) 247-6255

Amy.Stoddard@db.com

Address:

Distribution Date:

October 25, 2007

1761 East St. Andrew Place, Santa Ana, CA 92705

Record Date:

September 28, 2007

Factor Information:

(800) 735-7777

October 24, 2007

Main Phone Number:

(714) 247-6000

Determination Date:

September 28, 2007

https://tss.sfs.db.com/investpublic

Page 1 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Certificate Payment Report
Current Period Distribution -
			Prior						Current
			Prior

	Class	Original	Principal			Total	Realized	Deferred	Principal

Class	Type	Face Value	Balance	Interest	Principal	Distribution	Loss	Interest	Balance
			(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	FLT/WAC	281,626,000.00	244,345,567.06	1,071,302.60	4,235,871.73	5,307,174.33	0.00	0.00	240,109,695.33
A-1	FLT/WAC	281,626,000.00	244,345,567.06	1,071,302.60	4,235,871.73	5,307,174.33	0.00	0.00	240,109,695.33
A-2A	FLT/WAC	189,572,000.00	151,836,791.94	654,321.68	4,116,036.16	4,770,357.84	0.00	0.00	147,720,755.78
A-2B	FLT/WAC	116,029,000.00	116,029,000.00	509,681.56	0.00	509,681.56	0.00	0.00	116,029,000.00
A-2C	FLT/WAC	10,529,000.00	10,529,000.00	46,952.76	0.00	46,952.76	0.00	0.00	10,529,000.00
M-1	FLT/WAC	49,743,000.00	49,743,000.00	222,237.22	0.00	222,237.22	0.00	0.00	49,743,000.00
M-2	FLT/WAC	40,965,000.00	40,965,000.00	184,043.80	0.00	184,043.80	0.00	0.00	40,965,000.00
M-3	FLT/WAC	19,229,000.00	19,229,000.00	86,871.01	0.00	86,871.01	0.00	0.00	19,229,000.00
M-4	FLT/WAC	22,991,000.00	22,991,000.00	105,207.77	0.00	105,207.77	0.00	0.00	22,991,000.00
M-5	FLT/WAC	15,884,000.00	15,884,000.00	73,082.95	0.00	73,082.95	0.00	0.00	15,884,000.00
M-6	FLT/WAC	13,794,000.00	13,794,000.00	64,041.52	0.00	64,041.52	0.00	0.00	13,794,000.00
B-1	FLT/WAC	15,466,000.00	15,466,000.00	79,021.59	0.00	79,021.59	0.00	0.00	15,466,000.00
B-2	FLT/WAC	9,196,000.00	9,196,000.00	53,116.48	0.00	53,116.48	0.00	0.00	9,196,000.00
B-3	FLT/WAC	11,286,000.00	11,286,000.00	69,420.66	0.00	69,420.66	0.00	0.00	11,286,000.00
X	EXE	39,711,881.00	39,711,039.36	749,221.89	0.00	749,221.89	0.00	0.00	39,711,039.36
P	EXE	0.00	0.00	56,623.00	0.00	56,623.00	0.00	0.00	0.00
R-I	EXE	0.00	0.00	4,441.11	0.00	4,441.11	0.00	0.00	0.00
R-II	EXE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Total		836,021,881.00	761,005,398.36	4,029,587.60	8,351,907.89	12,381,495.49	0.00	0.00	752,653,490.47
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face Value
					Orig. Principal	Prior				Current
					Orig. Principal	Prior				Current
	Period	Period			(with Notional)	Principal			Total	Principal
Class	Starting	Ending	Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
			Method
					(1)	(1)	(2)	(3)	(4)=(2)+(3)	(5)

A-1	09/25/07	10/24/07	A-Act/360	81378GAA6	281,626,000.00	867.624321	3.803990	15.040769	18.844760	852.583552
A-1	09/25/07	10/24/07	A-Act/360	81378GAA6	281,626,000.00	867.624321	3.803990	15.040769	18.844760	852.583552
A-2A	09/25/07	10/24/07	A-Act/360	81378GAB4	189,572,000.00	800.945245	3.451573	21.712258	25.163831	779.232987
A-2B	09/25/07	10/24/07	A-Act/360	81378GAC2	116,029,000.00	1,000.000000	4.392708	0.000000	4.392708	1,000.000000
A-2C	09/25/07	10/24/07	A-Act/360	81378GAD0	10,529,000.00	1,000.000000	4.459375	0.000000	4.459375	1,000.000000
M-1	09/25/07	10/24/07	A-Act/360	81378GAE8	49,743,000.00	1,000.000000	4.467708	0.000000	4.467708	1,000.000000
M-2	09/25/07	10/24/07	A-Act/360	81378GAF5	40,965,000.00	1,000.000000	4.492708	0.000000	4.492708	1,000.000000
M-3	09/25/07	10/24/07	A-Act/360	81378GAG3	19,229,000.00	1,000.000000	4.517708	0.000000	4.517708	1,000.000000
M-4	09/25/07	10/24/07	A-Act/360	81378GAH1	22,991,000.00	1,000.000000	4.576041	0.000000	4.576041	1,000.000000
M-5	09/25/07	10/24/07	A-Act/360	81378GAJ7	15,884,000.00	1,000.000000	4.601042	0.000000	4.601042	1,000.000000
M-6	09/25/07	10/24/07	A-Act/360	81378GAK4	13,794,000.00	1,000.000000	4.642708	0.000000	4.642708	1,000.000000
B-1	09/25/07	10/24/07	A-Act/360	81378GAL2	15,466,000.00	1,000.000000	5.109375	0.000000	5.109375	1,000.000000
B-2	09/25/07	10/24/07	A-Act/360	81378GAM0	9,196,000.00	1,000.000000	5.776042	0.000000	5.776042	1,000.000000
B-3	09/25/07	10/24/07	A-Act/360	81378GAN8	11,286,000.00	1,000.000000	6.151042	0.000000	6.151042	1,000.000000
X	09/25/07	10/24/07	A-30/360		39,711,881.00	999.978806	18.866442	0.000000	18.866442	999.978806
P	09/25/07	10/24/07	A-30/360		0.00	0.000000	0.000000	0.000000	0.000000	0.000000
R-I			0.00	0.000000	0.000000	0.000000	0.000000	0.000000
R-II			0.00	0.000000	0.000000	0.000000	0.000000	0.000000



Page 2 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution


Distribution to Date -
									Current


	Original		Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal

Class	Face Value	Interest	Principal	Principal	Principal	Distribution	Loss	Interest	Balance
(1)	(2)	(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	281,626,000.00	9,502,855.09	40,402,900.50	1,113,404.17	41,515,668.62	51,018,523.71	0.00	0.00	240,109,695.33
A-2A	189,572,000.00	6,057,256.70	40,758,557.33	1,092,686.89	41,851,880.27	47,909,136.97	0.00	0.00	147,720,755.78
A-2B	116,029,000.00	4,222,496.76	0.00	0.00	0.00	4,222,496.76	0.00	0.00	116,029,000.00
A-2C	10,529,000.00	388,784.05	0.00	0.00	0.00	388,784.05	0.00	0.00	10,529,000.00
M-1	49,743,000.00	1,840,079.95	0.00	0.00	0.00	1,840,079.95	0.00	0.00	49,743,000.00
M-2	40,965,000.00	1,523,559.49	0.00	0.00	0.00	1,523,559.49	0.00	0.00	40,965,000.00
M-3	19,229,000.00	719,005.70	0.00	0.00	0.00	719,005.70	0.00	0.00	19,229,000.00
M-4	22,991,000.00	870,402.55	0.00	0.00	0.00	870,402.55	0.00	0.00	22,991,000.00
M-5	15,884,000.00	604,519.69	0.00	0.00	0.00	604,519.69	0.00	0.00	15,884,000.00
M-6	13,794,000.00	529,575.61	0.00	0.00	0.00	529,575.61	0.00	0.00	13,794,000.00
B-1	15,466,000.00	651,506.33	0.00	0.00	0.00	651,506.33	0.00	0.00	15,466,000.00
B-2	9,196,000.00	436,427.47	0.00	0.00	0.00	436,427.47	0.00	0.00	9,196,000.00
B-3	11,286,000.00	569,473.55	0.00	0.00	0.00	569,473.55	0.00	0.00	11,286,000.00
X	39,711,881.00	12,071,952.98	820.43	21.21	841.64	12,072,794.62	0.00	0.22	39,711,039.36
P	0.00	897,289.11	0.00	0.00	0.00	897,289.11	0.00	0.00	0.00
R-I	0.00	151,922.18	0.00	0.00	0.00	151,922.18	0.00	0.00	0.00
R-II	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00


Total	836,021,881.00	41,037,107.21	81,162,278.26	2,206,112.27	83,368,390.53	124,405,497.74	0.00	0.22	752,653,490.47


Interest Detail -
	Pass	Prior Principal		Non-	Prior	Unscheduled		Paid or	Current
	Pass	Prior Principal		Non-	Prior	Unscheduled		Paid or

	Through	(with Notional)	Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid

Class	Rate	Balance	Interest	Interest SF	Interest	Adjustment	Interest	Interest	Interest
			(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	5.26125%	244,345,567.06	1,071,302.60	0.00	0.00	0.00	1,071,302.60	1,071,302.60	0.00
A-2A	5.17125%	151,836,791.94	654,321.68	0.00	0.00	0.00	654,321.68	654,321.68	0.00
A-2B	5.27125%	116,029,000.00	509,681.56	0.00	0.00	0.00	509,681.56	509,681.56	0.00
A-2C	5.35125%	10,529,000.00	46,952.76	0.00	0.00	0.00	46,952.76	46,952.76	0.00
M-1	5.36125%	49,743,000.00	222,237.22	0.00	0.00	0.00	222,237.22	222,237.22	0.00
M-2	5.39125%	40,965,000.00	184,043.80	0.00	0.00	0.00	184,043.80	184,043.80	0.00
M-3	5.42125%	19,229,000.00	86,871.01	0.00	0.00	0.00	86,871.01	86,871.01	0.00
M-4	5.49125%	22,991,000.00	105,207.77	0.00	0.00	0.00	105,207.77	105,207.77	0.00
M-5	5.52125%	15,884,000.00	73,082.95	0.00	0.00	0.00	73,082.95	73,082.95	0.00
M-6	5.57125%	13,794,000.00	64,041.52	0.00	0.00	0.00	64,041.52	64,041.52	0.00
B-1	6.13125%	15,466,000.00	79,021.59	0.00	0.00	0.00	79,021.59	79,021.59	0.00
B-2	6.93125%	9,196,000.00	53,116.48	0.00	0.00	0.00	53,116.48	53,116.48	0.00
B-3	7.38125%	11,286,000.00	69,420.66	0.00	0.00	0.00	69,420.66	69,420.66	0.00
X	22.64021%	39,711,039.36	0.00	0.00	0.00	0.00	0.00	749,221.89	0.00
P	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	56,623.00	0.00
R-I	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	4,441.11	0.00
R-II	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Total		761,005,398.36	3,219,301.60	0.00	0.00	0.00	3,219,301.60	4,029,587.60	0.00



Page 3 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Collection Account Report
SUMMARY

	Group 2	Group 1	Total
Principal Collections	3,697,834.97	3,805,494.91	7,503,329.88
Principal Withdrawals	0.00	0.00	0.00
Principal Other Accounts	0.00	0.00	0.00
TOTAL NET PRINCIPAL	3,697,834.97	3,805,494.91	7,503,329.88
Interest Collections	2,571,092.89	2,363,025.74	4,934,118.63
Interest Withdrawals	-16.72	-132.93	-149.65
Interest Fees	-11,372.57	-12,307.85	-29,109.20
Interest Other Accounts	28,590.64	28,032.36	(26,694.17)
TOTAL NET INTEREST	2,588,294.24	2,378,617.32	4,878,165.61
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION	6,286,129.21	6,184,112.23	12,381,495.49




PRINCIPAL - COLLECTIONS

	Group 2	Group 1	Total
Scheduled Principal Received	123,599.09	146,366.36	269,965.45
Curtailments	16,510.64	21,931.80	38,442.44
Prepayments In Full	2,537,011.73	3,269,266.14	5,806,277.87
Repurchased/Substitutions	0.00	0.00	0.00
Liquidations	1,598,181.23	639,040.90	2,237,222.13
Insurance Principal	0.00	0.00	0.00
Other Additional Principal	0.00	0.00	0.00
Delinquent Principal	-113,666.16	-132,694.87	-246,361.03
Realized Losses	-577,467.72	-271,110.29	-848,578.01
Advanced Principal	113,666.16	132,694.87	246,361.03
TOTAL PRINCIPAL COLLECTED	3,697,834.97	3,805,494.91	7,503,329.88




PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK




PRINCIPAL - OTHER ACCOUNTS

	Group 2	Group 1	Total
TOTAL PRINCIPAL OTHER ACCOUNTS	0.00	0.00	0.00






Page 4 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution


INTEREST - COLLECTIONS

	Group 2	Group 1	Total
Scheduled Interest	2,798,686.90	2,507,353.06	5,306,039.96
Repurchased/Substitution Interest	0.00	0.00	0.00
Liquidation Interest	12,080.94	4,634.59	16,715.53
Insurance Interest	0.00	0.00	0.00
Other Additional Interest	0.00	0.00	0.00
Prepayment Interest Shortfalls	-0.00	-2,792.99	-2,792.99
Delinquent Interest	-2,621,502.98	-2,309,751.01	-4,931,253.99
Compensating Interest	0.00	2,793.00	2,793.00
Civil Relief Act Shortfalls	-0.00	-0.00	-0.00
Interest Realized Loss	18,983.98	901.13	19,885.11
Interest Advanced	2,400,812.01	2,161,690.22	4,562,502.23
TOTAL INTEREST COLLECTED	2,571,092.89	2,363,025.74	4,934,118.63




INTEREST - WITHDRAWALS

	Group 2	Group 1	Total
Non Recoverable Advances	16.72	132.93	149.65
TOTAL INTEREST WITHDRAWALS	16.72	132.93	149.65




INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
	Group 2	Group 1	Total
Prepayment Charges	28,590.64	28,032.36	56,623.00
Net Swap			(87,758.28)

. a) Swap Payment			(2,791,509.08)
. b) Swap Receipt			2,703,750.80
. c) Swap Termination Payment			0.00
. d) Defaulted Swap Termination Payment			0.00

Cap Payment			0.00
Float			4,441.11
TOTAL INTEREST OTHER ACCOUNTS	28,590.64	28,032.36	(26,694.17)



INTEREST FEES
INTEREST FEES
	Group 2	Group 1	Total
Current Servicing Fees	11,372.57	12,307.85	23,680.42
Trustee/Custodian Fees	0.00	0.00	1,268.34
Extraordinary Expenses	2,208.74	1,951.70	4,160.44
TOTAL INTEREST FEES	11,372.57	12,307.85	29,109.20



Page 5 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2

Mortgage Pass-Through Certificates

October 25, 2007 Distribution

Credit Enhancement Report

ACCOUNTS

Excess Reserve Fund

Beginning Balance

0.00

Amount Deposited

0.00

Amount Withdrawn

0.00

Net SWAP Amount

0.00

Ending Balance

0.00

Supplemental Float Trust

Beginning Balance

6,000.00

Amount Deposited

4,441.11

Amount Withdrawn

(4,441.11)

Ending Balance

6,000.00

Supplemental Interest Trust

Beginning Balance

0.00

Amount Deposited

2,703,750.80

Amount Withdrawn

2,791,509.08

Net SWAP Amount

(87,758.28)

Ending Balance

0.00

INSURANCE

SPACE INTENTIONALLY LEFT BLANK

Page 6 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2

Mortgage Pass-Through Certificates

October 25, 2007 Distribution

STRUCTURAL FEATURES

Group 2

Group 1

Total

Overcollateralized Amount - Prior Period

39,711,039.36

Current Period Principal Realized Losses

848,578.01

Overcollateralized Amount - After Current Losses

38,862,461.35

Extra Principal Distribution Amount

848,578.01

Overcollateralization Reduction Amount

0.00

Overcollateralized Amount - Ending

39,711,039.36

Overcollateralization Deficiency Amount

0.00

Overcollateralization Excess Amount

0.00

Specified Overcollateralization Amount

39,711,039.36

Net Monthly Excess Cashflow

749,221.89

Net Monthly Excess Cashflow Allocated to :

0.00

. a) Unpaid Interest Amounts

0.00

. b) Applied Realized Loss Amounts

1,887,075.15

. c) Basis Risk Carryforward Amounts

0.00

Page 7 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Collateral Report


COLLATERAL




		Group 2	Group 1	Total



Loan Count:


Original	2,028	2,361	4,389
Prior	1,870	2,174	4,044
Prefunding	0	0	0
Scheduled Paid Offs	-0	-0	-0
Full Voluntary Prepayments	-7	-21	-28
Repurchases	-0	-0	-0
Liquidations	-7	-4	-11
Current	1,856	2,149	4,005
Principal Balance:


Original	442,139,641.84	393,882,239.38	836,021,881.22
Prior	404,010,402.68	356,994,995.68	761,005,398.36
Prefunding	0.00	0.00	0.00
Scheduled Principal	-123,599.09	-146,366.36	-269,965.45
Partial Prepayments	-16,510.64	-21,931.80	-38,442.44
Full Voluntary Prepayments	-2,537,011.73	-3,269,266.14	-5,806,277.87
Repurchases	-0.00	-0.00	-0.00
Liquidations	-1,598,181.23	-639,040.90	-2,237,222.13
Current	399,735,099.99	352,918,390.48	752,653,490.47





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK

Page 8 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution


CHARACTERISTICS
CHARACTERISTICS

	Group 2	Group 1	Total
Weighted Average Coupon Original	8.38559%	8.44132%	8.41185%
Weighted Average Coupon Prior	8.35499%	8.44390%	8.39659%
Weighted Average Coupon Current	8.34575%	8.44296%	8.39135%
Weighted Average Months to Maturity Original	354	353	354
Weighted Average Months to Maturity Prior	348	347	348
Weighted Average Months to Maturity Current	347	346	347
Weighted Avg Remaining Amortization Term Original	406	411	408
Weighted Avg Remaining Amortization Term Prior	399	405	402
Weighted Avg Remaining Amortization Term Current	398	404	401
Weighted Average Seasoning Original	4.54	4.50	4.52
Weighted Average Seasoning Prior	10.53	10.48	10.50
Weighted Average Seasoning Current	11.53	11.47	11.50

Page 9 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution


ARM CHARACTERISTICS
ARM CHARACTERISTICS

	Group 2	Group 1	Total
Weighted Average Margin Original	6.16727%	6.25597%	6.20825%
Weighted Average Margin Prior	6.16180%	6.25465%	6.20411%
Weighted Average Margin Current	6.16098%	6.25530%	6.20405%
Weighted Average Max Rate Original	15.13010%	15.36860%	15.24031%
Weighted Average Max Rate Prior	15.09793%	15.37619%	15.22472%
Weighted Average Max Rate Current	15.08968%	15.37345%	15.21928%
Weighted Average Min Rate Original	8.13042%	8.37237%	8.24222%
Weighted Average Min Rate Prior	8.09827%	8.37969%	8.22650%
Weighted Average Min Rate Current	8.09003%	8.37699%	8.22108%
Weighted Average Cap Up Original	1.49984%	1.49812%	1.49904%
Weighted Average Cap Up Prior	1.49983%	1.49825%	1.49911%
Weighted Average Cap Up Current	1.49983%	1.49823%	1.49910%
Weighted Average Cap Down Original	1.49984%	1.49812%	1.49904%
Weighted Average Cap Down Prior	1.49983%	1.49825%	1.49911%
Weighted Average Cap Down Current	1.49983%	1.49823%	1.49910%




SERVICING FEES & ADVANCES
SERVICING FEES & ADVANCES

	Group 2	Group 1	Total




Current Servicing Fees	11,372.57	12,307.85	23,680.42
Delinquent Servicing Fees	153,906.91	135,907.27	289,814.18
TOTAL SERVICING FEES	165,279.46	148,215.09	313,494.55


Total Servicing Fees	165,279.46	148,215.09	313,494.55
Compensating Interest	-0.00	-2,793.00	-2,793.00
Delinquent Servicing Fees	-153,906.91	-135,907.27	-289,814.18
COLLECTED SERVICING FEES	11,372.54	9,514.82	20,887.36


Total Advanced Interest	2,400,812.01	2,161,690.22	4,562,502.23
Total Advanced Principal	113,666.16	132,694.87	246,361.03
Aggregate P&I Advances with respect to this Distribution	2,514,478.18	2,294,385.09	4,808,863.27
Non Recoverable Advance	16.72	132.93	149.65





ADDITIONAL COLLATERAL INFORMATION
ADDITIONAL COLLATERAL INFORMATION
	Group 2	Group 1	Total
Prepayment Interest Shortfall (PPIS)	0.00	2,792.99	2,792.99
Compensating Interest	0.00	(2,793.00)	(2,793.00)
Net Prepayment Interest Shortfall (PPIS)	0.00	0.00	0.00

Weighted Average Net Mortgage Rate			7.6921910000%
Ending Pool Stated Principal Balance			752,653,490.47

Market Value of outstanding REO properties.*

* Information not available with Trustee.




Page 10 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Delinquency Report

TOTAL
		< 1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT	Balance		40,889,042.68	20,163,611.54	26,523,854.45	87,576,508.67
	% Balance		5.43%	2.68%	3.52%	11.64%
	# Loans		200	103	149	452
	% # Loans		4.99%	2.57%	3.72%	11.29%
FORECLOSURE	Balance	438,666.97	0.00	2,600,829.83	48,491,897.00	51,531,393.80
	% Balance	0.06%	0.00%	0.35%	6.44%	6.85%
	# Loans	1	0	14	181	196
	% # Loans	0.02%	0.00%	0.35%	4.52%	4.89%
BANKRUPTCY	Balance	1,165,828.88	257,643.66	516,054.16	5,235,848.76	7,175,375.46
	% Balance	0.15%	0.03%	0.07%	0.70%	0.95%
	# Loans	13	2	4	30	49
	% # Loans	0.32%	0.05%	0.10%	0.75%	1.22%
REO	Balance	0.00	0.00	0.00	11,147,208.48	11,147,208.48
	% Balance	0.00%	0.00%	0.00%	1.48%	1.48%
	# Loans	0	0	0	41	41
	% # Loans	0.00%	0.00%	0.00%	1.02%	1.02%
TOTAL	Balance	1,604,495.85	41,146,686.34	23,280,495.53	91,398,808.69	157,430,486.41
	% Balance	0.21%	5.47%	3.09%	12.14%	20.92%
	# Loans	14	202	121	401	738
	% # Loans	0.35%	5.04%	3.02%	10.01%	18.43%

Page 11 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution


GROUP 1
		< 1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT	Balance		20,829,519.22	8,698,662.41	8,481,861.16	38,010,042.79
	% Balance		5.90%	2.46%	2.40%	10.77%
	# Loans		115	47	57	219
	% # Loans		5.35%	2.19%	2.65%	10.19%
FORECLOSURE	Balance	0.00	0.00	943,488.09	17,302,201.84	18,245,689.93
	% Balance	0.00%	0.00%	0.27%	4.90%	5.17%
	# Loans	0	0	5	82	87
	% # Loans	0.00%	0.00%	0.23%	3.82%	4.05%
BANKRUPTCY	Balance	865,858.84	0.00	382,874.71	2,851,996.28	4,100,729.83
	% Balance	0.25%	0.00%	0.11%	0.81%	1.16%
	# Loans	8	0	2	16	26
	% # Loans	0.37%	0.00%	0.09%	0.74%	1.21%
REO	Balance	0.00	0.00	0.00	2,893,783.08	2,893,783.08
	% Balance	0.00%	0.00%	0.00%	0.82%	0.82%
	# Loans	0	0	0	15	15
	% # Loans	0.00%	0.00%	0.00%	0.70%	0.70%
TOTAL	Balance	865,858.84	20,829,519.22	10,025,025.21	31,529,842.36	63,250,245.63
	% Balance	0.25%	5.90%	2.84%	8.93%	17.92%
	# Loans	8	115	54	170	347
	% # Loans	0.37%	5.35%	2.51%	7.91%	16.15%

Page 12 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution


GROUP 2
		< 1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT	Balance		20,059,523.46	11,464,949.13	18,041,993.29	49,566,465.88
	% Balance		5.02%	2.87%	4.51%	12.40%
	# Loans		85	56	92	233
	% # Loans		4.58%	3.02%	4.96%	12.55%
FORECLOSURE	Balance	438,666.97	0.00	1,657,341.74	31,189,695.16	33,285,703.87
	% Balance	0.11%	0.00%	0.41%	7.80%	8.33%
	# Loans	1	0	9	99	109
	% # Loans	0.05%	0.00%	0.48%	5.33%	5.87%
BANKRUPTCY	Balance	299,970.04	257,643.66	133,179.45	2,383,852.48	3,074,645.63
	% Balance	0.08%	0.06%	0.03%	0.60%	0.77%
	# Loans	5	2	2	14	23
	% # Loans	0.27%	0.11%	0.11%	0.75%	1.24%
REO	Balance	0.00	0.00	0.00	8,253,425.40	8,253,425.40
	% Balance	0.00%	0.00%	0.00%	2.06%	2.06%
	# Loans	0	0	0	26	26
	% # Loans	0.00%	0.00%	0.00%	1.40%	1.40%
TOTAL	Balance	738,637.01	20,317,167.12	13,255,470.32	59,868,966.33	94,180,240.78
	% Balance	0.18%	5.08%	3.32%	14.98%	23.56%
	# Loans	6	87	67	231	391
	% # Loans	0.32%	4.69%	3.61%	12.45%	21.07%

Page 13 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

REO Report
Loan Number	Original	Stated		Current	State &		First
Loan Number	Original	Stated		Current	State &		First
&	Principal	Principal	Paid to	Note	LTV at	Original	Payment
Loan Group	Balance	Balance	Date	Rate	Origination	Term	Date
					Origination



Became REO Property this Period:
1009736716 1	153,000.00	151,973.10	01-Mar-2007	9.125%	GA - 90.00%	360	01-Nov-2006
1009782568 2	252,608.00	251,945.61	01-Dec-2006	9.350%	NV - 90.00%	360	01-Oct-2006
1010068543 2	504,000.00	504,000.00	01-Dec-2006	8.600%	CA - 80.00%	360	01-Dec-2006
1010119524 2	220,000.00	219,144.67	01-Feb-2007	7.375%	CA - 80.00%	360	01-Dec-2006
1010169658 2	640,000.00	640,000.00	01-Dec-2006	7.950%	MN - 80.00%	360	01-Nov-2006
1010221486 1	218,000.00	217,244.31	01-Feb-2007	8.100%	CA - 83.85%	360	01-Nov-2006
1010247994 2	659,200.00	656,355.37	01-Jan-2007	7.000%	WA - 80.00%	360	01-Dec-2006
1010375792 2	304,000.00	302,545.57	01-Dec-2006	8.075%	CA - 80.00%	360	01-Dec-2006
1010393326 2	450,000.00	450,000.00	01-Jan-2007	9.300%	CA - 90.00%	360	01-Dec-2006
1010399124 2	209,880.00	208,775.36	01-Feb-2007	9.825%	RI - 90.00%	360	01-Dec-2006
1010441239 1	256,500.00	255,967.78	01-Mar-2007	9.550%	MN - 90.00%	360	01-Dec-2006
1010588562 1	100,800.00	100,593.03	01-Mar-2007	9.250%	GA - 90.00%	360	01-Dec-2006
1010667307 1	101,200.00	100,800.99	01-Jan-2007	7.325%	MI - 80.00%	360	01-Dec-2006


TOTAL	4,069,188.00	4,059,345.79

Became REO Property in a Prior Period:
1009116100 2	142,880.00	142,879.97	01-Feb-2007	8.975%	MI - 80.00%	360	01-Oct-2006
1009403905 2	340,000.00	339,329.39	01-Dec-2006	10.025%	TX - 80.00%	360	01-Nov-2006
1009660921 1	420,000.00	420,000.00	01-Dec-2006	7.850%	MN - 80.00%	360	01-Oct-2006
1009785262 2	94,500.00	94,352.02	01-Jan-2007	10.788%	MO - 90.00%	360	01-Nov-2006
1009854561 2	297,500.00	296,772.10	01-Dec-2006	9.300%	CA - 85.00%	360	01-Nov-2006
1009891343 2	256,500.00	256,393.82	01-Feb-2007	9.775%	GA - 95.00%	360	01-Dec-2006
1009931737 1	467,500.00	464,790.70	01-Nov-2006	9.800%	CA - 85.00%	360	01-Nov-2006
1009971603 2	212,000.00	210,202.39	01-Jan-2007	7.925%	RI - 80.00%	360	01-Nov-2006
1010024813 2	392,000.00	391,999.99	01-Nov-2006	7.325%	CA - 80.00%	360	01-Nov-2006
1010029943 2	70,200.00	69,786.79	01-Dec-2006	9.725%	MI - 90.00%	360	01-Nov-2006
1010031636 2	192,000.00	190,612.92	01-Dec-2006	8.725%	TX - 80.00%	360	01-Nov-2006
1010053960 1	111,750.00	111,110.25	01-Feb-2007	10.250%	CO - 75.00%	360	01-Nov-2006
1010056048 2	192,000.00	190,747.20	01-Dec-2006	9.225%	TX - 80.00%	360	01-Nov-2006
1010077855 2	540,000.00	540,000.00	01-Jan-2007	7.350%	GA - 80.00%	360	01-Nov-2006
1010157992 1	88,000.00	87,456.52	01-Mar-2007	9.050%	MO - 80.00%	360	01-Dec-2006
1010238192 2	600,000.00	600,000.00	01-Dec-2006	7.500%	CA - 80.00%	360	01-Dec-2006
1010272803 2	255,500.00	253,922.14	01-Dec-2006	9.050%	MN - 94.98%	360	01-Dec-2006
1010290614 1	288,000.00	288,000.00	01-Jan-2007	6.925%	CA - 80.00%	360	01-Dec-2006
1010313056 1	151,200.00	149,429.46	01-Mar-2007	8.775%	MI - 80.00%	360	01-Dec-2006
1010366506 1	60,000.00	59,674.31	01-Feb-2007	9.750%	NC - 84.51%	360	01-Dec-2006
1010375818 1	72,000.00	71,877.85	01-Dec-2006	10.225%	MO - 90.00%	360	01-Dec-2006
1010449017 1	148,000.00	146,864.79	01-Jan-2007	7.975%	MN - 80.00%	360	01-Dec-2006
1010473935 2	228,000.00	227,161.98	01-Dec-2006	7.575%	RI - 80.00%	360	01-Dec-2006
1010492139 2	228,000.00	226,015.93	01-Dec-2006	7.375%	CA - 80.00%	360	01-Dec-2006
1010586564 2	620,000.00	620,000.00	01-Jan-2007	7.600%	MN - 80.00%	360	01-Dec-2006
1010637563 2	151,525.00	151,302.50	01-Dec-2006	10.700%	CO - 95.00%	360	01-Dec-2006
1010662375 1	268,000.00	267,999.99	01-Dec-2006	7.525%	CA - 80.00%	360	01-Dec-2006


Page 14 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2

Mortgage Pass-Through Certificates

October 25, 2007 Distribution

Loan Number

Original

Stated

Current

State &

First

Principal

Paid to

Note

LTV at

Original

Payment

Loan Group

Balance

Date

Rate

Origination

Term

Date

1010681103 2

220,480.00

219,179.68

01-Feb-2007

9.275%

TX - 80.00%

360

01-Dec-2006

TOTAL

7,107,535.00

7,087,862.69

TOTAL

11,176,723.00

11,147,208.48

Page 15 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Foreclosure Report
Loan Number	Original	Stated		Current	State &		First
Loan Number	Original	Stated		Current	State &		First
&	Principal	Principal	Paid to	Note	LTV at	Original	Payment
Loan Group	Balance	Balance	Date	Rate	Origination	Term	Date
					Origination

Became Foreclosure Property this Period:
1008988321 2	56,100.00	55,961.64	01-May-2007	9.825%	IL - 85.00%	360	01-Sep-2006
1009049914 2	392,000.00	391,999.95	01-May-2007	8.525%	CA - 80.00%	360	01-Oct-2006
1009074413 2	70,000.00	69,489.45	01-Jun-2007	9.100%	MS - 70.00%	360	01-Oct-2006
1009168410 2	580,500.00	579,296.44	01-May-2007	10.400%	CA - 90.00%	360	01-Sep-2006
1009395629 2	240,000.00	239,218.16	01-Feb-2007	8.875%	AZ - 80.00%	360	01-Sep-2006
1009501773 2	140,000.00	139,177.79	01-Jun-2007	10.200%	OH - 100.00%	360	01-Oct-2006
1009527611 2	450,000.00	448,673.05	01-May-2007	8.990%	CA - 90.00%	360	01-Oct-2006
1009581847 1	69,275.00	68,815.00	01-Mar-2007	9.550%	TN - 85.00%	360	01-Oct-2006
1009615767 1	222,400.00	221,917.87	01-Mar-2007	9.990%	NJ - 78.59%	360	01-Oct-2006
1009663214 2	472,000.00	470,328.65	01-Apr-2007	8.025%	CA - 80.00%	360	01-Nov-2006
1009716257 2	333,000.00	332,042.97	01-May-2007	8.750%	CA - 90.00%	360	01-Nov-2006
1009725247 2	292,000.00	291,217.19	01-May-2007	9.275%	IL - 80.00%	360	01-Oct-2006
1009757284 2	680,000.00	677,920.85	01-Apr-2007	8.825%	FL - 80.00%	360	01-Oct-2006
1009760234 1	157,000.00	156,758.69	01-May-2007	10.850%	FL - 76.59%	360	01-Nov-2006
1009765186 2	544,000.00	543,999.97	01-Apr-2007	8.425%	NV - 80.00%	360	01-Nov-2006
1009765220 2	458,850.00	457,676.74	01-Jun-2007	9.150%	CA - 95.00%	360	01-Nov-2006
1009771080 2	279,900.00	279,301.88	01-May-2007	9.450%	MD - 90.00%	360	01-Dec-2006
1009932004 2	454,500.00	453,280.75	01-Mar-2007	8.675%	CA - 90.00%	360	01-Dec-2006
1009968797 1	201,600.00	200,777.12	01-Apr-2007	7.775%	MA - 80.00%	360	01-Nov-2006
1010020684 1	97,750.00	97,331.08	01-May-2007	10.800%	LA - 85.00%	360	01-Dec-2006
1010026848 2	67,500.00	67,111.42	01-May-2007	9.675%	IN - 90.00%	360	01-Dec-2006
1010044882 2	180,000.00	179,490.17	01-Jun-2007	8.800%	RI - 80.00%	360	01-Nov-2006
1010080182 1	391,000.00	388,593.04	01-May-2007	8.250%	CA - 84.82%	360	01-Dec-2006
1010097165 2	501,600.00	501,600.00	01-Feb-2007	7.400%	CA - 95.00%	360	01-Nov-2006
1010103531 1	98,000.00	97,721.41	01-Apr-2007	8.475%	GA - 80.00%	360	01-Dec-2006
1010104451 2	546,250.00	546,249.98	01-May-2007	7.725%	MD - 95.00%	360	01-Dec-2006
1010142507 2	296,000.00	295,188.51	01-Mar-2007	8.600%	NV - 80.00%	360	01-Dec-2006
1010161497 2	110,700.00	110,260.48	01-Jun-2007	7.300%	GA - 90.00%	360	01-Dec-2006
1010176882 1	215,100.00	214,252.81	01-Jun-2007	7.650%	VA - 89.63%	360	01-Nov-2006
1010200169 1	176,350.00	175,996.94	01-Jun-2007	9.975%	FL - 89.98%	360	01-Nov-2006
1010249652 2	219,200.00	217,535.34	01-Jun-2007	8.025%	HI - 80.00%	360	01-Dec-2006
1010321065 2	288,000.00	285,513.99	01-May-2007	7.375%	CA - 80.00%	360	01-Dec-2006
1010339181 2	556,000.00	556,000.00	01-Apr-2007	6.875%	CA - 80.00%	360	01-Dec-2006
1010344219 2	448,000.00	447,279.71	01-Apr-2007	10.400%	FL - 80.00%	360	01-Dec-2006
1010352977 1	76,000.00	75,590.55	01-May-2007	9.800%	NE - 84.44%	360	01-Dec-2006
1010357669 1	237,500.00	237,335.90	01-Apr-2007	7.500%	RI - 95.00%	360	01-Dec-2006
1010360227 1	172,500.00	171,795.26	01-May-2007	11.025%	WI - 75.00%	360	01-Dec-2006
1010367015 2	110,500.00	109,648.08	01-May-2007	7.950%	ME - 81.85%	360	01-Dec-2006
1010369512 2	79,000.00	78,794.10	01-Mar-2007	8.775%	FL - 49.07%	360	01-Dec-2006
1010383934 2	440,802.00	440,802.00	01-May-2007	8.125%	CA - 80.00%	360	01-Dec-2006
1010403654 1	82,800.00	82,145.74	01-Jun-2007	7.825%	TX - 80.00%	360	01-Dec-2006
1010415384 1	382,500.00	381,526.74	01-Feb-2007	9.038%	NJ - 85.00%	360	01-Dec-2006
1010417444 2	208,000.00	207,441.97	01-Mar-2007	8.675%	IL - 80.00%	360	01-Dec-2006
1010417444 2	208,000.00			8.675%	IL - 80.00%


Page 16 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Loan Number	Original	Stated		Current	State &		First
&	Principal	Principal	Paid to	Note	LTV at	Original	Payment
Loan Group	Balance	Balance	Date	Rate	Origination	Term	Date
					Origination
1010427898 1
1010427898 1	210,600.00	209,740.27	01-Apr-2007	7.200%	FL - 90.00%	360	01-Dec-2006

1010436290 2	111,350.00	110,710.00	01-Jun-2007	9.400%	TX - 85.00%	360	01-Dec-2006
1010448125 2	467,920.00	466,200.18	01-May-2007	7.575%	CA - 80.00%	360	01-Dec-2006
1010455287 2	133,000.00	132,195.22	01-Jun-2007	9.150%	FL - 73.08%	360	01-Dec-2006
1010465436 1	140,000.00	139,713.86	01-Apr-2007	9.600%	MN - 80.00%	360	01-Dec-2006
1010472589 1	200,090.00	197,526.81	01-Mar-2007	7.275%	CO - 85.00%	360	01-Dec-2006
1010483782 1	243,750.00	243,153.49	01-Jun-2007	8.990%	CA - 75.00%	360	01-Dec-2006
1010484530 2	242,250.00	240,806.55	01-Jun-2007	9.250%	CA - 85.00%	360	01-Dec-2006
1010496153 2	313,241.00	312,301.18	01-May-2007	8.288%	MI - 85.00%	360	01-Dec-2006
1010525620 2	99,000.00	98,623.07	01-May-2007	7.450%	MO - 90.00%	360	01-Dec-2006
1010585930 1	231,920.00	230,069.22	01-May-2007	7.775%	MA - 78.62%	360	01-Dec-2006
1010596802 1	69,000.00	68,940.53	01-Feb-2007	12.425%	PA - 47.59%	360	01-Dec-2006
1010599694 1	178,125.00	177,801.83	01-Mar-2007	10.000%	AZ - 75.00%	360	01-Dec-2006
1010604795 1	229,500.00	227,939.11	01-Jun-2007	8.575%	IL - 90.00%	360	01-Dec-2006
1010609905 1	140,250.00	139,068.58	01-May-2007	7.500%	IL - 85.00%	360	01-Dec-2006
1010622418 2	196,000.00	195,442.81	01-Apr-2007	8.475%	FL - 80.00%	360	01-Dec-2006
1010658736 1	135,900.00	134,782.16	01-Mar-2007	9.700%	MO - 90.00%	360	01-Dec-2006
1010672621 2	51,000.00	50,901.78	01-Mar-2007	9.800%	TN - 41.46%	360	01-Dec-2006
1010684725 2	750,000.00	745,320.78	01-May-2007	9.000%	CT - 53.57%	360	01-Dec-2006
1010757816 2	216,000.00	214,267.72	01-Apr-2007	7.750%	MN - 80.00%	360	01-Dec-2006
1010768788 1	416,800.00	415,121.99	01-Apr-2007	7.250%	CA - 80.00%	360	01-Dec-2006


TOTAL	16,849,873.00	16,793,686.52

Became Foreclosure Property in a Prior Period:
1007321944 2	440,000.00	440,000.00	01-Dec-2006	7.950%	CA - 87.13%	360	01-Sep-2006
1008052171 2	550,000.00	548,138.91	01-Mar-2007	8.475%	MA - 76.92%	360	01-Oct-2006
1008125655 1	72,250.00	71,911.33	01-Dec-2006	11.575%	IN - 85.00%	360	01-Sep-2006
1008521423 1	252,000.00	250,317.14	01-Mar-2007	9.900%	NJ - 90.00%	360	01-Sep-2006
1008710139 2	348,500.00	347,554.75	01-Mar-2007	9.500%	CA - 85.00%	360	01-Sep-2006
1008733515 2	352,000.00	350,775.98	01-Dec-2006	8.650%	CA - 80.00%	360	01-Sep-2006
1008735158 1	21,000.00	20,888.83	01-Mar-2007	9.800%	TX - 100.00%	360	01-Aug-2006
1008774999 2	437,850.00	436,717.33	01-Dec-2006	8.800%	NY - 90.00%	360	01-Dec-2006
1008889624 1	351,900.00	350,802.69	01-Apr-2007	9.025%	FL - 90.00%	360	01-Sep-2006
1009054658 2	238,000.00	237,148.13	01-Feb-2007	8.550%	CA - 100.00%	360	01-Sep-2006
1009073913 2	703,000.00	700,440.31	01-Mar-2007	8.490%	CA - 95.00%	360	01-Sep-2006
1009230478 2	117,000.00	116,462.26	01-Dec-2006	11.300%	CA - 100.00%	360	01-Oct-2006
1009246210 2	50,760.00	50,476.09	01-Feb-2007	10.375%	IN - 90.00%	360	01-Oct-2006
1009246611 1	403,750.00	402,737.19	01-Mar-2007	9.500%	CA - 95.00%	360	01-Oct-2006
1009309839 1	107,100.00	106,254.57	01-Feb-2007	8.975%	GA - 90.00%	360	01-Oct-2006
1009309919 1	247,500.00	247,050.61	01-Mar-2007	10.300%	FL - 75.00%	360	01-Nov-2006
1009360782 1	159,200.00	158,350.91	01-Jan-2007	10.600%	TX - 80.00%	360	01-Oct-2006
1009422626 1	171,900.00	171,505.62	01-Mar-2007	9.800%	CT - 90.00%	360	01-Oct-2006
1009424633 2	573,450.00	571,689.48	01-Apr-2007	8.225%	CA - 95.00%	360	01-Dec-2006
1009486059 2	65,700.00	65,300.49	01-Feb-2007	9.975%	IN - 90.00%	360	01-Oct-2006
1009569219 2	427,500.00	427,499.93	01-Feb-2007	8.600%	CA - 95.00%	360	01-Oct-2006
1009616739 1	86,850.00	86,603.10	01-Nov-2006	9.075%	OH - 90.00%	360	01-Oct-2006
1009635317 2	67,500.00	66,818.94	01-Feb-2007	9.975%	IN - 90.00%	360	01-Oct-2006


Page 17 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Loan Number	Original	Stated		Current	State &		First
&	Principal	Principal	Paid to	Note	LTV at	Original	Payment
Loan Group	Balance	Balance	Date	Rate	Origination	Term	Date
					Origination
1009655688 1
1009655688 1	272,000.00	271,032.05	01-Apr-2007	8.300%	CA - 80.00%	360	01-Oct-2006

1009665784 2	261,000.00	260,222.09	01-Dec-2006	8.625%	MD - 90.00%	360	01-Nov-2006
1009713928 1	64,600.00	64,432.85	01-Mar-2007	8.800%	NJ - 85.00%	360	01-Dec-2006
1009727263 1	202,000.00	201,586.41	01-Dec-2006	9.900%	FL - 89.78%	360	01-Nov-2006
1009768753 2	126,270.00	125,582.50	01-May-2007	10.100%	OH - 90.00%	360	01-Nov-2006
1009769048 2	85,000.00	84,413.25	01-Nov-2006	8.950%	OH - 85.00%	360	01-Nov-2006
1009787279 2	308,000.00	308,000.00	01-Mar-2007	8.475%	CA - 80.00%	360	01-Nov-2006
1009806800 2	90,000.00	89,480.01	01-Mar-2007	9.375%	OH - 90.00%	360	01-Dec-2006
1009814659 2	108,000.00	107,820.82	01-Feb-2007	10.600%	FL - 69.23%	360	01-Nov-2006
1009817861 2	596,000.00	596,000.00	01-Dec-2006	7.450%	NJ - 80.00%	360	01-Dec-2006
1009885788 1	184,500.00	183,474.73	01-Feb-2007	10.275%	MA - 90.00%	360	01-Nov-2006
1009885948 2	196,000.00	195,295.96	01-Jan-2007	7.975%	CA - 80.00%	360	01-Nov-2006
1009887839 2	512,000.00	512,000.00	01-May-2007	6.750%	CA - 80.00%	360	01-Nov-2006
1009919341 1	403,750.00	400,909.23	01-Apr-2007	9.525%	MN - 95.00%	360	01-Nov-2006
1009961570 2	952,000.00	952,000.00	01-Mar-2007	7.700%	FL - 80.00%	360	01-Nov-2006
1009979570 1	162,000.00	161,677.20	01-Mar-2007	9.990%	CA - 90.00%	360	01-Nov-2006
1009981549 2	75,920.00	75,304.34	01-May-2007	8.150%	OH - 80.00%	360	01-Nov-2006
1009991841 1	202,000.00	200,741.37	01-Jan-2007	9.450%	MA - 89.78%	360	01-Nov-2006
1010000722 1	401,600.00	397,340.29	01-Jan-2007	6.775%	CA - 80.00%	360	01-Nov-2006
1010006673 2	83,500.00	83,033.27	01-Jan-2007	9.975%	FL - 58.80%	360	01-Nov-2006
1010023422 1	346,500.00	345,642.09	01-Mar-2007	8.950%	CA - 90.00%	360	01-Dec-2006
1010041135 2	378,400.00	378,400.00	01-Mar-2007	6.875%	CA - 80.00%	360	01-Nov-2006
1010041974 2	98,100.00	97,730.27	01-May-2007	11.825%	TX - 90.00%	360	01-Nov-2006
1010048076 2	118,400.00	118,183.78	01-Apr-2007	9.990%	AZ - 80.00%	360	01-Dec-2006
1010048673 1	270,000.00	269,291.32	01-Apr-2007	8.750%	CA - 76.06%	360	01-Dec-2006
1010072609 2	760,000.00	759,765.63	01-Mar-2007	7.875%	CA - 80.00%	360	01-Dec-2006
1010074199 2	161,600.00	161,201.66	01-Dec-2006	9.275%	FL - 80.00%	360	01-Nov-2006
1010079997 2	72,000.00	71,600.88	01-Feb-2007	9.575%	WI - 90.00%	360	01-Dec-2006
1010083143 1	159,200.00	158,897.54	01-Jan-2007	10.150%	CA - 80.00%	360	01-Nov-2006
1010093436 2	72,000.00	71,696.19	01-Apr-2007	10.875%	AL - 90.00%	360	01-Dec-2006
1010097281 2	472,000.00	471,999.98	01-Mar-2007	7.975%	CA - 80.00%	360	01-Dec-2006
1010115840 1	284,500.00	283,322.40	01-May-2007	7.150%	AZ - 83.68%	360	01-Dec-2006
1010123813 2	650,000.00	646,787.00	01-May-2007	10.125%	FL - 86.67%	360	01-Dec-2006
1010132563 1	300,000.00	298,000.47	01-Apr-2007	8.675%	CA - 57.69%	360	01-Dec-2006
1010146497 1	247,500.00	247,008.16	01-Jan-2007	10.000%	RI - 90.00%	360	01-Nov-2006
1010146521 2	63,000.00	62,589.63	01-Mar-2007	9.125%	IN - 90.00%	360	01-Dec-2006
1010149957 2	79,200.00	78,804.27	01-Jan-2007	10.075%	MS - 90.00%	360	01-Dec-2006
1010156804 1	125,000.00	124,667.13	01-Feb-2007	8.700%	PA - 79.62%	360	01-Dec-2006
1010183730 2	513,000.00	510,829.83	01-Dec-2006	7.750%	CA - 88.45%	360	01-Dec-2006
1010198047 2	93,750.00	93,549.62	01-Mar-2007	9.450%	FL - 69.44%	360	01-Dec-2006
1010204058 1	217,000.00	216,462.41	01-Feb-2007	8.950%	CA - 72.33%	360	01-Dec-2006
1010214939 2	100,000.00	99,683.31	01-Apr-2007	8.100%	CA - 40.82%	360	01-Dec-2006
1010215037 2	517,750.00	516,483.02	01-Jan-2007	8.990%	CA - 95.00%	360	01-Dec-2006
1010215947 2	432,000.00	432,000.00	01-Feb-2007	6.990%	CA - 80.00%	360	01-Dec-2006
1010218267 1	225,900.00	224,547.08	01-May-2007	9.200%	FL - 90.00%	360	01-Dec-2006
1010231581 1	88,400.00	87,642.34	01-Apr-2007	7.600%	IL - 71.87%	360	01-Dec-2006
1010231705 2	200,000.00	199,534.78	01-Apr-2007	9.163%	NJ - 80.00%	360	01-Dec-2006


Page 18 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Loan Number	Original	Stated		Current	State &		First
&	Principal	Principal	Paid to	Note	LTV at	Original	Payment
Loan Group	Balance	Balance	Date	Rate	Origination	Term	Date
					Origination
1010238325 2
1010238325 2	560,000.00	560,000.00	01-Jan-2007	7.600%	CA - 80.00%	360	01-Dec-2006

1010251265 1	292,500.00	291,965.40	01-Feb-2007	9.975%	RI - 90.00%	360	01-Dec-2006
1010268346 1	157,500.00	156,666.72	01-Jan-2007	9.800%	UT - 90.00%	360	01-Dec-2006
1010281385 1	208,650.00	208,087.31	01-May-2007	8.700%	CA - 65.00%	360	01-Dec-2006
1010283061 1	76,500.00	76,320.75	01-Feb-2007	9.250%	OH - 85.00%	360	01-Dec-2006
1010290142 2	454,750.00	453,800.93	01-Jan-2007	9.530%	CA - 85.00%	360	01-Dec-2006
1010303067 1	288,000.00	288,000.00	01-Feb-2007	6.775%	CA - 80.00%	360	01-Dec-2006
1010310460 2	127,500.00	126,744.12	01-May-2007	9.250%	IL - 85.00%	360	01-Dec-2006
1010321449 2	270,000.00	269,243.39	01-Feb-2007	8.525%	FL - 90.00%	360	01-Dec-2006
1010325659 2	524,000.00	524,000.00	01-Jan-2007	6.750%	CA - 80.00%	360	01-Dec-2006
1010333436 1	176,000.00	175,343.95	01-Mar-2007	7.525%	NV - 80.00%	360	01-Dec-2006
1010344424 2	252,464.00	251,983.00	01-Dec-2006	9.838%	FL - 90.00%	360	01-Dec-2006
1010345566 1	299,000.00	297,796.30	01-Mar-2007	7.250%	NY - 65.00%	360	01-Dec-2006
1010346734 2	244,000.00	244,000.00	01-Jan-2007	8.225%	FL - 80.00%	360	01-Dec-2006
1010355992 1	103,500.00	102,975.49	01-May-2007	10.150%	FL - 90.00%	360	01-Dec-2006
1010363634 1	238,500.00	237,122.06	01-May-2007	9.375%	NY - 90.00%	360	01-Dec-2006
1010371457 1	97,500.00	97,004.14	01-Feb-2007	9.990%	AK - 58.04%	360	01-Dec-2006
1010377718 2	66,600.00	66,223.04	01-Feb-2007	9.475%	OH - 90.00%	360	01-Dec-2006
1010379271 1	81,000.00	80,438.96	01-Mar-2007	8.825%	OH - 90.00%	360	01-Dec-2006
1010382365 1	195,000.00	194,536.64	01-Mar-2007	9.090%	CA - 80.91%	360	01-Dec-2006
1010397171 1	266,000.00	265,999.98	01-Feb-2007	9.650%	OR - 95.00%	360	01-Dec-2006
1010413563 1	463,250.00	460,532.02	01-Apr-2007	9.300%	NY - 85.00%	360	01-Dec-2006
1010417514 1	199,750.00	199,347.69	01-Feb-2007	9.650%	NM - 85.00%	360	01-Dec-2006
1010425774 2	116,100.00	115,310.35	01-Feb-2007	8.575%	TN - 90.00%	360	01-Dec-2006
1010427665 2	450,000.00	448,635.06	01-Mar-2007	8.250%	CA - 75.00%	360	01-Dec-2006
1010429431 1	280,000.00	280,000.00	01-Dec-2006	7.950%	AZ - 80.00%	360	01-Dec-2006
1010434498 2	535,500.00	535,500.00	01-Mar-2007	9.750%	RI - 90.00%	360	01-Dec-2006
1010440980 2	244,000.00	243,326.09	01-Mar-2007	8.575%	IL - 80.00%	360	01-Dec-2006
1010448704 1	391,000.00	389,830.95	01-Apr-2007	8.300%	NJ - 85.00%	360	01-Dec-2006
1010451780 1	360,000.00	358,667.53	01-Apr-2007	7.550%	CA - 80.00%	360	01-Dec-2006
1010473800 1	171,000.00	170,238.96	01-Apr-2007	8.250%	VA - 90.00%	360	01-Dec-2006
1010487118 1	150,000.00	146,622.91	01-Mar-2007	7.900%	ID - 69.44%	360	01-Dec-2006
1010492521 1	50,400.00	49,536.99	01-Mar-2007	8.990%	TX - 80.00%	240	01-Dec-2006
1010508596 2	428,000.00	427,999.99	01-Jan-2007	6.875%	CA - 80.00%	360	01-Dec-2006
1010519762 2	415,625.00	414,501.25	01-Feb-2007	8.650%	NJ - 95.00%	360	01-Dec-2006
1010543147 2	68,000.00	66,898.19	01-May-2007	10.050%	IL - 85.00%	360	01-Dec-2006
1010549356 2	280,000.00	279,069.00	01-Jan-2007	7.990%	WA - 80.00%	360	01-Dec-2006
1010550824 2	67,500.00	67,093.57	01-Jan-2007	9.175%	OH - 90.00%	360	01-Dec-2006
1010560047 2	462,650.00	461,453.15	01-Apr-2007	8.800%	CA - 95.00%	360	01-Dec-2006
1010572828 1	128,000.00	127,745.37	01-Apr-2007	9.900%	AZ - 80.00%	360	01-Dec-2006
1010576780 1	168,000.00	167,781.74	01-Apr-2007	11.100%	CA - 80.00%	360	01-Dec-2006
1010578993 2	384,000.00	382,464.85	01-Apr-2007	7.275%	CA - 80.00%	360	01-Dec-2006
1010590309 2	64,800.00	64,462.52	01-May-2007	9.875%	MI - 90.00%	360	01-Dec-2006
1010593397 2	327,250.00	326,831.39	01-Feb-2007	11.150%	CA - 85.00%	360	01-Dec-2006
1010599998 1	405,000.00	404,101.90	01-Jan-2007	9.325%	CA - 90.00%	360	01-Dec-2006
1010603135 2	74,500.00	74,162.62	01-Mar-2007	10.650%	NY - 100.00%	360	01-Dec-2006
1010614285 1	132,750.00	132,406.60	01-Mar-2007	8.800%	FL - 75.00%	360	01-Dec-2006


Page 19 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Loan Number	Original	Stated		Current	State &		First
&	Principal	Principal	Paid to	Note	LTV at	Original	Payment
Loan Group	Balance	Balance	Date	Rate	Origination	Term	Date
					Origination
1010626726 1
1010626726 1	438,000.00	436,613.04	01-May-2007	8.100%	NY - 74.87%	360	01-Dec-2006

1010629126 1	301,750.00	300,483.44	01-Mar-2007	7.100%	CA - 83.82%	360	01-Dec-2006
1010634138 1	112,500.00	111,863.33	01-Jan-2007	9.475%	OH - 90.00%	360	01-Dec-2006
1010641781 2	441,000.00	438,666.97	01-Sep-2007	8.990%	CA - 90.00%	360	01-Dec-2006
1010663711 2	388,000.00	387,025.18	01-Apr-2007	8.900%	CA - 80.00%	360	01-Dec-2006
1010666291 1	361,800.00	360,718.20	01-May-2007	8.300%	CA - 90.00%	360	01-Dec-2006
1010666790 1	208,000.00	207,240.82	01-Dec-2006	7.600%	IL - 80.00%	360	01-Dec-2006
1010667110 1	185,300.00	184,958.79	01-Mar-2007	9.950%	MI - 85.00%	360	01-Dec-2006
1010667423 1	120,464.00	119,454.18	01-Jan-2007	7.525%	OK - 80.00%	360	01-Dec-2006
1010684896 2	339,920.00	338,503.04	01-Feb-2007	7.125%	CA - 80.00%	360	01-Dec-2006
1010716825 1	161,000.00	160,800.25	01-Jan-2007	11.250%	AZ - 70.00%	360	01-Dec-2006
1010721597 2	82,450.00	81,871.93	01-Jan-2007	8.425%	OH - 85.00%	360	01-Dec-2006
1010736135 2	468,000.00	467,999.43	01-Feb-2007	8.175%	CA - 80.00%	360	01-Dec-2006
1010752170 2	616,000.00	609,649.60	01-Apr-2007	7.200%	CA - 80.00%	360	01-Dec-2006
1010755934 1	247,500.00	246,974.46	01-Mar-2007	10.050%	CA - 75.00%	360	01-Dec-2006


TOTAL	34,843,773.00	34,737,707.28


TOTAL	51,693,646.00	51,531,393.80
TOTAL


Page 20 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Prepayment Report

VOLUNTARY PREPAYMENTS



		Group 2	Group 1	Total


Current


Number of Paid in Full Loans	7	21	28
Number of Repurchased Loans	0	0	0
Total Number of Loans Prepaid in Full	7	21	28
Curtailments Amount	16,510.64	21,931.80	38,442.44
Paid in Full Balance	2,537,011.73	3,269,266.14	5,806,277.87
Repurchased Loans Balance	0.00	0.00	0.00
Total Prepayment Amount	2,553,522.37	3,291,197.94	5,844,720.31
Cumulative


Number of Paid in Full Loans	155	208	363
Number of Repurchased Loans	0	0	0
Total Number of Loans Prepaid in Full	155	208	363
Paid in Full Balance	37,205,496.55	39,146,220.33	76,351,716.88
Repurchased Loans Balance	0.00	0.00	0.00
Curtailments Amount	156,121.40	(219,023.64)	(62,902.24)
Total Prepayment Amount	37,361,617.95	38,927,196.69	76,288,814.64

Page 21 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution


PREPAYMENTS RATES



		Group 2	Group 1	Total





SMM	1.03%	1.10%	1.06%
3 Months Avg SMM	1.09%	1.14%	1.11%
12 Months Avg SMM	1.22%	1.32%	1.27%
Avg SMM Since Cut-off	1.22%	1.32%	1.27%



CPR	11.66%	12.44%	12.03%
3 Months Avg CPR	12.35%	12.82%	12.57%
12 Months Avg CPR	13.72%	14.78%	14.22%
Avg CPR Since Cut-off	13.72%	14.78%	14.22%



PSA	505.75%	542.28%	522.88%
3 Months Avg PSA Approximation	586.64%	611.61%	598.34%
12 Months Avg PSA Approximation	854.58%	925.80%	888.06%
Avg PSA Since Cut-off Approximation	854.58%	925.80%	888.06%

Page 22 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2

Mortgage Pass-Through Certificates

October 25, 2007 Distribution

PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidation Balance)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)

PSA Standard Prepayment Model: CPR/(0.20%*min(30,WAS))

Average SMM over period between nth month and mth month (AvgSMMn,m): 1 - [(1-SMMn)*(1-SMMn+1)*...*(1-SMMm)]^(1/months in period n,m)

Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)

Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.20%*Avg WASn,m))

Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m)

Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.

Dates correspond to distribution dates.

Page 23 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Prepayment Detail Report

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution


Loan Number		Original			Current	State &	Type Prepayment	First


&	Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Payment

Loan Group	Status	Balance	Amount	Date	Rate	Origination	Original Term	Date

1008726505 1		26,360.00	26,255.45	15-Oct-2007	12.350%	UT - 100.00%	Paid Off - 360	01-Aug-2006
1008726505 1		26,360.00	26,255.45	15-Oct-2007	12.350%	UT - 100.00%	Paid Off - 360	01-Aug-2006
1009018225 1		132,000.00	131,587.45	25-Sep-2007	8.750%	NJ - 80.00%	Paid Off - 360	01-Sep-2006
1009058994 1		153,750.00	153,520.90	01-Oct-2007	10.650%	IL - 75.00%	Paid Off - 360	01-Nov-2006
1009216500 2		268,000.00	267,312.88	12-Oct-2007	8.825%	MA - 80.00%	Paid Off - 360	01-Dec-2006
1009437692 1		181,600.00	180,762.34	25-Sep-2007	7.975%	UT - 80.00%	Paid Off - 360	01-Oct-2006
1009437914 1		45,400.00	44,717.14	25-Sep-2007	11.700%	UT - 100.00%	Paid Off - 360	01-Oct-2006
1009499802 2		648,000.00	645,681.44	02-Oct-2007	7.990%	IL - 80.00%	Paid Off - 360	01-Oct-2006
1009617694 1		143,600.00	142,546.66	28-Sep-2007	8.650%	TX - 66.48%	Paid Off - 360	01-Oct-2006
1009620341 1		143,200.00	142,264.63	21-Sep-2007	8.775%	AR - 80.00%	Paid Off - 360	01-Nov-2006
1009635567 1		108,000.00	107,037.96	03-Oct-2007	7.675%	VA - 80.00%	Paid Off - 360	01-Oct-2006
1009759399 1		200,000.00	199,492.59	18-Sep-2007	9.375%	MA - 74.07%	Paid Off - 360	01-Oct-2006
1009779518 2	FCL	196,200.00	195,789.68	01-Oct-2007	9.550%	MA - 90.00%	Paid Off - 360	01-Nov-2006
1009978045 1		170,000.00	169,635.35	17-Sep-2007	9.525%	AL - 85.00%	Paid Off - 360	01-Dec-2006
1010079960 1		90,000.00	89,995.97	25-Sep-2007	6.990%	FL - 56.60%	Paid Off - 360	01-Nov-2006
1010101098 1		185,000.00	184,133.26	20-Sep-2007	9.000%	FL - 76.13%	Paid Off - 360	01-Dec-2006
1010175598 2		355,000.00	353,766.68	10-Oct-2007	7.425%	CA - 56.80%	Paid Off - 360	01-Dec-2006
1010201373 2		128,320.00	127,962.85	01-Oct-2007	7.725%	IA - 80.00%	Paid Off - 360	01-Dec-2006
1010310674 1		300,000.00	298,911.46	15-Oct-2007	7.700%	NY - 80.00%	Paid Off - 360	01-Dec-2006
1010329307 2		479,750.00	477,868.24	04-Oct-2007	6.990%	NY - 95.00%	Paid Off - 360	01-Dec-2006
1010337254 1		211,000.00	210,163.41	02-Oct-2007	6.990%	MD - 52.75%	Paid Off - 360	01-Dec-2006
1010413251 1		237,150.00	236,804.85	04-Oct-2007	10.400%	MI - 85.00%	Paid Off - 360	01-Dec-2006
1010431623 1		127,500.00	126,822.56	03-Oct-2007	9.300%	GA - 85.00%	Paid Off - 360	01-Dec-2006
1010446298 1		220,000.00	218,731.20	10-Oct-2007	8.900%	NJ - 63.77%	Paid Off - 360	01-Dec-2006
1010463321 1		124,950.00	124,550.61	02-Oct-2007	11.700%	SC - 85.00%	Paid Off - 360	01-Dec-2006
1010525229 1		243,600.00	243,217.67	03-Oct-2007	10.150%	OR - 79.87%	Paid Off - 360	01-Dec-2006
1010550584 1		155,480.00	154,990.60	04-Oct-2007	7.775%	FL - 80.00%	Paid Off - 360	01-Dec-2006
1010609040 2	BK	469,500.00	468,629.96	10-Oct-2007	9.650%	CA - 75.00%	Paid Off - 360	01-Dec-2006
1010690255 1		83,500.00	83,124.08	26-Sep-2007	6.500%	FL - 55.67%	Paid Off - 360	01-Dec-2006


TOTAL	5,826,860.00	5,806,277.87

Page 24 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Realized Loss Report

COLLATERAL REALIZED LOSSES



		Group 2	Group 1	Total


Current





Number of Loans Liquidated		7	4	11
Collateral Principal Realized Loss/(Gain) Amount		577,467.72	271,110.29	848,578.01
Collateral Interest Realized Loss/(Gain) Amount		18,983.98	901.13	19,885.11
Net Liquidation Proceeds		1,001,729.53	367,029.48	1,368,759.01

Cumulative
Cumulative



Number of Loans Liquidated		17	5	22
Collateral Realized Loss/(Gain) Amount		1,585,063.87	302,011.28	1,887,075.15
Net Liquidation Proceeds		2,438,016.61	548,372.08	2,986,388.69






	Current Applied Realized Loss X				0.00
	Current Applied Realized Loss B-3				0.00
	Current Applied Realized Loss B-2				0.00
	Current Applied Realized Loss B-1				0.00
	Current Applied Realized Loss M-6				0.00
	Current Applied Realized Loss M-5				0.00
	Current Applied Realized Loss M-4				0.00
	Current Applied Realized Loss M-3				0.00
	Current Applied Realized Loss M-2				0.00
	Current Applied Realized Loss M-1				0.00

Page 25 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution


DEFAULT SPEEDS

	Group 2	Group 1	Total




MDR	0.40%	0.18%	0.29%
3 Months Avg MDR	0.28%	0.08%	0.19%
12 Months Avg MDR	0.12%	0.03%	0.08%
Avg MDR Since Cut-off	0.12%	0.03%	0.08%


CDR	4.65%	2.13%	3.47%
3 Months Avg CDR	3.30%	0.95%	2.20%
12 Months Avg CDR	1.47%	0.36%	0.95%
Avg CDR Since Cut-off	1.47%	0.36%	0.95%


SDA	2,014.58%	926.88%	1,508.86%
3 Months Avg SDA Approximation	1,566.74%	451.72%	1,048.81%
12 Months Avg SDA Approximation	913.69%	222.96%	591.62%
Avg SDA Since Cut-off Approximation	913.76%	222.97%	591.58%


Loss Severity Approximation for Current Period	36.13%	42.42%	37.93%
3 Months Avg Loss Severity Approximation	40.82%	35.41%	39.74%
12 Months Avg Loss Severity Approximation	38.65%	35.41%	38.09%
Avg Loss Severity Approximation Since Cut-off	38.65%	35.41%	38.09%

Page 26 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2

Mortgage Pass-Through Certificates

October 25, 2007 Distribution

COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY

Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)

Conditional Default Rate (CDR): 1-((1-MDR)^12)

SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02%,MAX(0.03%,MIN(30,WAS)*0.02%-0.0095%*(WAS-60)))

Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)*(1-MDRn+1)*...*(1-MDRm)]^(1/months in period n,m)

Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

Average SDA Approximation over period between the nth month and mth month:

AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02%,MAX(0.03%,MIN(30,Avg WASn,m)*0.02%-0.0095%*(Avg WASn,m-60)))

Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)

Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.

Dates correspond to distribution dates.

Charged off or Partially Charged off Loans assumed to have a minimum 100% Loss Severity Percentage.

Page 27 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Realized Loss Detail Report
Loan Number	Current	State &		Prior	Realized		Cumulative
							Cumulative
&	Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized

Loan Group	Status	Rate	Origination	Term	Balance	Revision	Loss/(Gain)	Loss/(Gain)
Loan Group	Status	Rate	Origination	Term	Balance	Revision	Loss/(Gain)	Loss/(Gain)
1010024047 1
1010024047 1		10.925%	TX - 85.00%	360	96,533.99		35,649.69	35,649.69

1010149136 1		7.925%	CA - 80.00%	360	271,996.30		170,465.63	170,465.63
1010417024 1		8.150%	ME - 90.00%	360	236,005.49		30,489.85	30,489.85
1010444977 1		12.400%	UT - 100.00%	360	34,505.12		35,406.25	35,406.25
1009478175 2		12.100%	CA - 100.00%	360	104,627.08		112,949.92	112,949.92
1009827538 2		11.100%	GA - 100.00%	360	81,634.88		87,627.30	87,627.30
1009909030 2		7.475%	NM - 80.00%	360	412,478.53		158,891.37	158,891.37
1010284952 2		9.650%	OH - 90.00%	360	53,733.08		10,519.18	10,519.18
1010449142 2	REO	8.625%	TN - 90.00%	360	67,893.39		23,035.53	23,035.53
1010454554 2		11.950%	CA - 100.00%	360	159,563.83		164,232.55	164,232.55
1010540060 2		8.675%	CA - 80.00%	360	718,250.44		39,195.85	39,195.85


TOTAL				2,237,222.13	868,463.12	868,463.12



Page 28 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2

Mortgage Pass-Through Certificates

October 25, 2007 Distribution

Triggers and Adj. Cert. Report

TRIGGER EVENTS

Group 2

Group 1

Total

Stepdown Date has occurred

Credit Enhancement Percentage (For Stepdown Date)

31.6567%

Trigger Event in effect

Yes

Delinquency Trigger Calculations

Prior Senior Credit Enhancement Percentage

31.3092%

60+ Day Deliquent Mortgage Loan Balance

302,811,678.46

Ending Balance

752,653,490.47

Delinquency Percentage

13.4108%

Prior Pool Balance

761,005,398.36

Senior Specified Enhancement %

50.8000%

Cumulative Realized Loss

1,887,075.15

Cutoff Pool Balance

836,021,881.22

Realized Loss Percentage

0.2257%

Servicer Event of Default?

Cumulative Loss Threshold Percentage

100.0000%

Delinquency Threshold Percentage

8.7666%

ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK

ADDITIONAL INFORMATION

Group 2

Group 1

Total

Current LIBOR Rate

5.131250%

Current LIBOR Determination Date

09/21/2007

Next LIBOR Rate

4.872500%

Next LIBOR Determination Date

10/23/2007

Current Swap LIBOR Rate

5.131250%

Page 29 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

		NET WAC Shortfall Prior (1)	Interest on Prior SF(2)	Curr NET WAC SF (3)	Total NET WAC SF (1+2+3)	NET WAC Shortfall Paid	NET WAC Shortfall UnPaid


CLASS
	A-1	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	A-2A	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	A-2B	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	A-2C	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-1	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-2	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-3	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-4	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-5	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	M-6	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	B-1	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	B-2	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
	B-3	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00




Page 30 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
October 25, 2007 Distribution

Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
	Group 2	Group 1	Total
Scheduled Payments for all Mortgage Loans	2,922,285.99	2,653,719.42	5,576,005.41
Current Scheduled Payments 1 Month Prior	2,969,048.96	2,684,472.94	5,653,521.91
Current Scheduled Payments 2 Month Prior	3,007,282.11	2,719,699.43	5,726,981.53
Current Scheduled Payments 3 Month Prior	3,034,443.31	2,762,679.04	5,797,122.36
Current Scheduled Payments 4 Month Prior	3,087,075.92	2,786,927.23	5,874,003.15
Current Scheduled Payments 5 Month Prior	3,118,532.08	2,830,379.59	5,948,911.67
Current Scheduled Payments 6 Month Prior	3,179,736.73	2,877,809.00	6,057,545.74
Current Scheduled Payments 7 Month Prior	3,222,329.48	2,919,241.98	6,141,571.46
Current Scheduled Payments 8 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 9 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 10 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 11 Month Prior	0.00	0.00	0.00





Sched. Payments for 60+Day Delinquent Loans	554,008.36	328,775.52	882,783.88
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior	491,509.40	276,894.01	768,403.41
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior	414,426.46	223,165.98	637,592.44
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior	343,978.35	155,240.19	499,218.54
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior	258,553.05	107,852.82	366,405.87
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior	197,383.66	79,773.29	277,156.95
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior	110,634.18	36,417.94	147,052.12
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior	24,276.04	6,643.50	30,919.54
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior	0.00	0.00	0.00





Page 31 of 31

Securitized Asset Backed Receivables LLC Trust 2007-NC2 10-D