UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION





WASHINGTON,
      D.C. 20549





FORM
      10-K/A





ANNUAL
      REPORT PURSUANT


TO
      SECTION 13 OR 15(d)


OF
      THE
      SECURITIES EXCHANGE ACT OF 1934




(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.




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




For
      the
      transition period from ________________ to _______________.




Commission
      file number 333-133985-04.





FIRST
      FRANKLIN MORTGAGE TRUST 2006-FF12


(Exact
      Name of Issuing Entity as Specified in its Charter)





STRUCTURED
      ASSET SECURITIES CORPORATION


(Exact
      Name of Depositor as Specified in its Charter)





LEHMAN
      BROTHERS HOLDINGS INC.


(Exact
      Name of Sponsor as Specified in its Charter)





STRUCTURED
      ASSET SECURITIES CORPORATION


(Exact
      Name of Registrant as Specified in its Charter)




Delaware
            74-2440850(State
                or Other Jurisdiction Of
                Incorporation)
            (I.R.S.
                EmployerIdentification
                No.)




745
                Seventh Avenue, 13th Floor
              New
                York, New York
            10019(Address
                of PrincipalExecutive
                Offices)
            (Zip
                Code)




Registrant’s
      telephone number, including area code: (212) 526-7000





745
      Seventh Avenue, 7 th Floor,
      New York, New York


(Former
      Name or Former Address, if Changed Since Last Report)





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
o
      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
o
      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 o





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. x




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 o  Accelerated
      filer o  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).





None.










PART
      I





Item
      1.
      Business.





Not
      Applicable.




Item
      1A.
      Risk Factors.





Not
      Applicable.




Item
      1B.
      Unresolved Staff Comments.





Not
      Applicable.




Item
      2.
      Properties.





Not
      Applicable.




Item
      3.
      Legal Proceedings.





None.




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





Not
      Applicable.











PART
      II





Item
      5.
      Market for Registrant's 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
      Operation.





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.





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.










PART
      IV


ADDITIONAL
      ITEMS REQUIRED BY GENERAL INSTRUCTION J




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





None.




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





None.




Item
      1117
      of Regulation AB. Legal Proceedings.





None.




Item
      1119
      of Regulation AB. Affiliation and Certain Relationships and Related
      Transactions.





Information
      required by Item 1119 has been omitted from this annual report on Form 10-K
      because it is substantially the same information as has been provided previously
      in a prospectus timely filed pursuant to Rule 424 promulgated under the
      Securities Act of 1933 under the same Central Index Key (CIK) code as this
      annual report on Form 10-K.




Item
        1122
        of Regulation AB. Compliance with Applicable Servicing Criteria.
 
 See
        Exhibit 33 and Exhibit 34.


American
          Security Insurance Company, Standard Guaranty Insurance Company and TrackSure
          Insurance Agency, Inc. (formerly, “Safeco Financial Institution Solutions,
          Inc.”) (affiliates of Assurant Inc., and collectively, the “Asserting Party”)),
          as sub-contractor for Home Loan Services, Inc. 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 §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. These material instances of
          noncompliance applied to the Issuing Entity, and have been corrected by
          the
          Asserting Party.




First
      American Real Estate Solutions of Texas, L.P.'s as sub contractor for Home
      Loan
      Services, Inc.’s 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: With
      respect to Item 1122(d)(2)(vii)(B), 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 agreement. These material instances of noncompliance did not apply
      to the Issuing Entity, and have been corrected by First American Real Estate
      Solutions of Texas, L.P.





Home
      Loan
      Services, Inc.’s report on assessment of compliance with servicing criteria and
      the related registered public accounting firm’s attestation report identify the
      following material instances of noncompliance with the servicing criteria:
      With
      respect to Item 1122(d)(1)(i), the company had not instituted policies and
      procedures to monitor any performance or other triggers in accordance with
      transaction agreements; with respect to Item 1122(d)(4)(x)(A), for a sample
      of
      60 loans with escrow accounts, 5 escrow accounts were not analyzed within a
      12
      month period; with respect to Item 1122(d)(4)(x)(C), for a sample of 60 loans
      with escrow accounts, escrow funds were not returned within 30 days after payoff
      for 2 loans. These material instances of noncompliance applied to the Issuing
      Entity, and have been corrected by Home Loan Services, Inc.




Item
                      1123 of Regulation AB.
                  Servicer
                      Compliance Statement.
  See
              Exhibit 35.




Item
      15. Exhibits, Financial Statement Schedules.





(a)
            1.
                Not Applicable.


2.
      Not
      Applicable.


3.
      The
      exhibits filed in response to Item 601 of Regulation S-K are listed in the
      Exhibit Index.





(b)
            See
                (a) above.





(c)
            Not
                Applicable.










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.







(Issuing
      Entity) First Franklin Mortgage Loan Trust 2006-FF12











By:  /s/
      E.
      Todd Whittemore


Name:
      E.
      Todd Whittemore


Title:
      Executive Vice President


(Senior
      Officer in Charge of the Servicing Function of Aurora Loan Services LLC) Aurora
      Loan Services LLC, as Master Servicer





Dated:
      September 19, 2007









EXHIBIT
      INDEX





EXHIBIT
            DESCRIPTION




Exhibit
              4
            Trust
                Agreement dated as of August 1, 2006, among Structured Asset Securities
                Corporation, as Depositor, Aurora Loan Services LLC, as Master Servicer,
                OfficeTiger Global Real Estate Services Inc., as Credit Risk Manager
                and
                U.S. Bank National Association, 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 September 13,
                2006).





Exhibit
              10
            Incorporated
                by reference at Exhibit (4).





Exhibit
              31
            302
                Sarbanes-Oxley Certification.





Exhibit
              33
            Item
                1122(a) Compliance with applicable servicing criteria -
                Assessments





(a)
                Assurant
                    Inc., as Sub-Contractor for Home Loan Services, Inc. f/k/a National
                    City
                    Home Services, Inc.


(b)
            Aurora
                Loan Services LLC, as Master
                Servicer


(c)
            First
                American Real Estate Solutions of Texas, LP, as Sub-contractor for
                Home
                Loan Services, Inc. f/k/a National City Home Services,
                Inc.


(d)
            Home
                Loan Services, Inc. f/k/a National City Home Services, Inc., as
                Servicer


(e)
            Office
                Tiger Global Real Estate Services, Inc., as Credit Risk
                Manager


(f)
            Regulus
                Group LLC, as Sub-contractor for Home Loan Services, Inc.
                f/k/aNational
                City Home Services Inc.


(g)
            U.S.
                Bank National Association, as Trustee, Paying Agent and
                Custodian





Exhibit
              34
            Item
                1122(a) Compliance with applicable servicing criteria -
                Attestations




(a)
            Assurant
                Inc., as Sub-Contractor for Home Loan Services, Inc. f/k/a National
                City
                Home Services, Inc.


(b)
            Aurora
                Loan Services LLC, as Master
                Servicer


(c)
            First
                American Real Estate Solutions of Texas, LP, as Sub-contractor for
                Home
                Loan Services, Inc. f/k/a National City Home Services,
                Inc.


(d)
            Home
                Loan Services, Inc. f/k/a National City Home Services, Inc., as
                Servicer


(e)
            Office
                Tiger Global Real Estate Services, Inc., as Credit Risk
                Manager


(f)
            Regulus
                Group LLC, as Sub-contractor for Home Loan Services, Inc. f/k/a National
                City Home Services, Inc.


(g)
            U.S.
                Bank National Association, as Trustee, Paying Agent and
                Custodian




Exhibit
              35
            Servicer
                Compliance Statement.




(a)
            Aurora
                Loan Services LLC, as Master
                Servicer


(b)
            Home
                Loan Services, Inc. f/k/a National City Home Services Inc., as
                Servicer