Exhibit 31.2

                    Certification of Chief Financial Officer
            Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

          I, George A. Rosenbaum, Jr., certify that:


     1.   I have  reviewed  this  Amendment  No. 1 to the Annual  Report on Form
          10-KSB/A of First Federal Banc of the Southwest, Inc.;

     2.   Based on my  knowledge,  this  report  does  not  contain  any  untrue
          statement  of a  material  fact  or  omit to  state  a  material  fact
          necessary to make the statements  made, in light of the  circumstances
          under which such  statements were made, not misleading with respect to
          the period covered by this annual report;

     3.   Based on my knowledge,  the financial statements,  and other financial
          information  included in this report,  fairly  present in all material
          respects the financial condition, results of operations and cash flows
          of the small business issuer as of, and for, the periods  presented in
          this report;

     4.   The  small  business  issuer's  other  certifying  officers  and I are
          responsible for establishing and maintaining  disclosure  controls and
          procedures (as defined in Exchange Act Rules  13a-15(e) and 15d-15(e))
          for the small business issuer and have:


          a)      designed  such  disclosure  controls and procedures  or caused
                  such  disclosure controls and  procedures to be designed under
                  our supervision,  to ensure that material information relating
                  to  the  small  business issuer,  including  its  consolidated
                  subsidiaries,  is  made  known  to  us  by others within those
                  entities,  particularly during the period in which this report
                  is being prepared;

          b)      evaluated  the  effectiveness of  the small  business issuer's
                  disclosure  controls  and  procedures  and  presented  in this
                  report   our   conclusions  about  the  effectiveness  of  the
                  disclosure  controls  and  procedures,  as  of  the end of the
                  period  covered by this report  based on such evaluation;  and

          c)      disclosed  in  this  report  any  change in the small business
                  issuer's   internal  control  over  financial  reporting  that
                  occurred during the small business issuer's most recent fiscal
                  quarter  (the small business issuer's fourth fiscal quarter in
                  the case of an annual report) that has materially affected, or
                  is reasonably likely to materially affect, the small business
                  issuer's internal control over financial reporting;

     5.   The small  business  issuer's  other  certifying  officers  and I have
          disclosed,  based on our most recent  evaluation  of internal  control
          over financial reporting,  to the small business issuer's auditors and
          the audit committee of the small business  issuer's board of directors
          (or persons performing the equivalent functions):


          a)      all significant deficiencies and material weaknesses in the
                  design or operation of internal control over financial
                  reporting which are reasonably likely to adversely affect the
                  small business issuer's ability to record, process, summarize
                  and report financial information; and
          b)      any fraud, whether or not material, that involves management
                  or other employees who have a significant role in the small
                  business issuer's internal control over financial reporting:



January 26, 2007                            \s\ George A. Rosenbaum, Jr.
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Date                                        George A. Rosenbaum, Jr.
                                            Executive Vice President and
                                            Chief Financial Officer