10-D/A 1 abf06op1_10da-200609.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-D/A Amendment No. 1 ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the monthly distribution period from: August 26, 2006 to September 25, 2006 Commission File Number of issuing entity: 333-130524-02 ABFC 2006-OPT1 Trust (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-130524 Asset Backed Funding Corporation (Exact name of depositor as specified in its charter) Bank of America, National Association (Exact name of sponsor as specified in its charter) New York (State or other jurisdiction of incorporation or organization of the issuing entity) 54-2197459 54-2197510 54-2197511 54-2197512 54-2197513 54-6717282 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices of the issuing entity) (Zip Code) (410) 884-2000 (Telephone number, including area code) Not Applicable (Former name, former address, if changed since last report) Registered/reporting pursuant to (check one) Title of Section Section Section Name of Exchange Class 12(b) 12(g) 15(d) (If Section 12(b)) R _____ _____ __X___ ____________ A-1 _____ _____ __X___ ____________ A-2 _____ _____ __X___ ____________ A-3A _____ _____ __X___ ____________ A-3B _____ _____ __X___ ____________ A-3C1 _____ _____ __X___ ____________ A-3C2 _____ _____ __X___ ____________ A-3D _____ _____ __X___ ____________ M-1 _____ _____ __X___ ____________ M-2 _____ _____ __X___ ____________ M-3 _____ _____ __X___ ____________ M-4 _____ _____ __X___ ____________ M-5 _____ _____ __X___ ____________ M-6 _____ _____ __X___ ____________ M-7 _____ _____ __X___ ____________ M-8 _____ _____ __X___ ____________ M-9 _____ _____ __X___ ____________ B _____ _____ __X___ ____________ R-X _____ _____ __X___ ____________ P _____ _____ __X___ ____________ CE _____ _____ __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 ____ Part I - DISTRIBUTION INFORMATION Item 1. Distribution and Pool Performance Information On March 1, 2007, a revision was made to the September 25, 2006 distribution which was made to holders of ABFC 2006-OPT1 Trust securities. The report was revised because the servicer provided incorrect due dates indicating the 15th instead of the month's end. Delinquency data has been revised with the correct dates. Payments to securityholders were not affected. The revised distribution report is attached as an Exhibit to this Form 10-D/A. Please see Item 9(b), Exhibit 99.1 for the related information. On August 30, 2006, the Trustee purchased from the Depositor certain additional group 3 mortgage loans with an aggregate principal balance equal to $86,052,992.99. The additional group 3 mortgage loans were purchased with the funds on deposit in the pre-funding account established pursuant to the pooling and servicing aggrement at a purchase price equal to the principal balance thereof. The additional group 3 mortgage loans were conveyed to the Trustee pursuant to an Additional Transfer Instrument, dated August 30, 2006, between the Depositor and the Trustee. The tables reflecting the revised loan group 3 composition and the revised pool composition are attached as an Exhibit to this Form 10-D/A. Please see Item 9(a), exhibit 99.2 for the related information. Part II - OTHER INFORMATION Item 9. Exhibits. (a) The following is a list of documents filed as part of this Report on Form 10-D/A: (99.1) Amended monthly report distributed to holders of ABFC 2006-OPT1 Trust, relating to the September 25, 2006 distribution. (99.2) Tables reflecting the revised loan group 3 composition and the revised pool compositon as a result of the purchase of the additional group 3 mortgage loans on August 30, 2006. (b) The exhibits required to be filed by the Registrant pursuant to this Form are listed above and in the Exhibit Index that immediately follows the signature page hereof. 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 thereunto duly authorized. Asset Backed Funding Corporation (Depositor) /s/ Daniel B. Goodwin Daniel B. Goodwin, President Date: March 2, 2007 EXHIBIT INDEX Exhibit Number Description EX-99.1 Amended monthly report distributed to holders of ABFC 2006-OPT1 Trust, relating to the September 25, 2006 distribution. EX-99.2 Tables reflecting the revised loan group 3 composition and the revised pool composition as a result of the purchase of the additional group 3 mortgage loans on August 30, 2006. EX-99.1 Asset Backed Funding Corporation Asset Backed Certificates Distribution Date: 9/25/2006 Asset Backed Funding Corporation Asset Backed Certificates Series 2006-OPT1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660

Prepayment Rates

EX-99.2

ABFC 2006-OPT1 Trust 10-D/A