8-K 1 as826581-8k.txt CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: February 12, 2004 (Date of earliest event reported) Asset Backed Funding Corporation -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-108551 75-2533468 -------------------------------------------------------------------------------- (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) 214 North Tryon Street, Charlotte, North Carolina 28255 -------------------------------------------------------------------------------- Address of principal executive offices (Zip Code) Registrant's telephone number, including area code (704) 386-2400 ------------------------------ -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 8.01. Other Events ------------ On February 12, 2004, Asset Backed Funding Corporation (the "Corporation"), sold C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB1, Class AF-1, Class A-V1, Class A-V2, Class A-V3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 (the "Offered Certificates"), having an aggregate original principal balance of $411,512,000.00. The Offered Certificates were issued pursuant to a Pooling and Servicing Agreement, dated as of January 1, 2004 (the "Agreement"), among the Corporation, as depositor, Credit-Based Asset Servicing and Securitization LLC, as seller, Litton Loan Servicing LP, as servicer and U.S. Bank National Association, as trustee, a copy of which is filed as an exhibit hereto. C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB1, Class B-4, Class N, Class X and Class R (the "Private Certificates" and, together with the Offered Certificates, the "Certificates"), were also issued pursuant to the Agreement but were not publicly offered. As of the date of initial issuance, the Offered Certificates evidenced an approximate 97.00% undivided interest in a trust (the "Trust"), consisting primarily of fixed-rate mortgage loans and adjustable-rate mortgage loans, secured by mortgages creating first, second and third liens on one- to four-family properties and certain other property. The remaining undivided interests in the Trust are evidenced by the Private Certificates. Interest on the Offered Certificates will be distributed on each Distribution Date (as defined in the Agreement). Monthly distributions in reduction of the principal balance of the Offered Certificates will be allocated to the Offered Certificates in accordance with the priorities set forth in the Agreement. An election will be made to treat certain assets of the Trust as one or more real estate mortgage investment conduits for federal income tax purposes (each, a "REMIC"). ITEM 9.01 Financial Statements and Exhibits --------------------------------- (c) Exhibits Item 601(a) of Regulation S-K Description ----------- (EX-4) Pooling and Servicing Agreement, dated as of January 1, 2004, among Asset Backed Funding Corporation, Credit-Based Asset Servicing and Securitization LLC, Litton Loan Servicing LP and U.S. Bank National Association. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASSET BACKED FUNDING CORPORATION February 12, 2004 By: /s/ Juanita L. Deane-Warner ------------------------------------ Name: Juanita L. Deane-Warner Title: Vice President INDEX TO EXHIBITS ----------------- Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- (EX-4) Pooling and Servicing Agreement, dated as E of January 1, 2004, among Asset Backed Funding Corporation, Credit-Based Asset Servicing and Securitization LLC, Litton Loan Servicing LP and U.S. Bank National Association.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)

27-Dec-04

Asset-Backed Funding Corporation, 2004-CB1 Trust,C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB1

Asset Backed Funding Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware	333-108551-03	75-2533468
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

100 North Tryon St. Charlotte, NC(Address of PrincipalExecutive Offices) 28255 (Zip Code)

Registrant's telephone number, including area code: 704-386-2400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On 27-Dec-04 a scheduled distribution was made from the Trust to holders of the Certificates. The Trustee has caused to be filed with the Commission, the Monthly Report dated 27-Dec-04. The Monthly Report is filed pursuant to and in accordance with (1) numerous no-action letters (2) current Commission policy in the area.

Item 9.01 Financial Statements and Exhibits.

Exhibit No. 99.1

Monthly Distribution Report dated: 27-Dec-04

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

By: U.S. Bank National Association, as Trustee for:

Asset-Backed Funding Corporation

2004-CB1 Trust

C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB1

By:

/s/ Sheryl Christopherson

Name:

Sheryl Christopherson

Title:

Vice President

Dated: 03-Jan-05

Index to Exhibits

Exhibit No. 99.1

Monthly Distribution Report dated: 27-Dec-04

Filing Compare · ASSET BACKED FUNDING CORP C BASS MOR LN AS BK CE SE 2004 CB1