UNITED STATES
                             SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C. 20549



                                          FORM 10-K


  (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

      OR



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


       Commission file number:  333-130524-01

       C-BASS 2006-CB6 Trust
       (exact name of issuing entity as specified in its charter)

       Asset Backed Funding Corporation
       (exact name of the depositor as specified in its charter)

       Credit-Based Asset Servicing and Securitization LLC
       (exact name of the sponsor as specified in its charter)


  New York                                          04-3852364
  (State or other jurisdiction of                   04-3852365
  incorporation or organization)                    04-3852366
                                                    04-3852367
                                                    04-3852368
                                                    04-3852369
                                                    04-3852370
						    04-3852371
                                                    (I.R.S. Employer
                                                    Identification No.)

   c/o U.S. Bank National Association
   60 Livingston Avenue
   St. Paul, MN                                55107
  (Address of principal executive offices)    (Zip Code)


  Registrant's telephone number, including area code: (651) 495-3847


  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  ___     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  ___     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  ___


  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.

        Not applicable.


  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 ___  Accelerated filer ___  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.


     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).

        Not applicable.


                                   PART I
  Item 1.  Business.

            Omitted.


  Item 1A.  Risk Factors.

            Omitted.


  Item 1B.  Unresolved Staff Comments.

            None.


  Item 2.  Properties.

            Omitted.


  Item 3.  Legal Proceedings.

            Omitted.


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

            Omitted.


                                PART II

  Item 5. Market for Registrant's Common Equity, Related Stockholder
          Matters and Issuer Purchases of Equity Securities.

            Omitted.


  Item 6.  Selected Financial Data.

            Omitted.


  Item 7.  Management's Discussion and Analysis of Financial Condition and
           Results of Operations.

            Omitted.


  Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

            Omitted.


  Item 8.  Financial Statements and Supplementary Data.

            Omitted.


  Item 9.  Changes in and Disagreements With Accountants on Accounting and
           Financial Disclosure.

            Omitted.


  Item 9A. Controls and Procedures.

            Omitted.


  Item 9A(T). Controls and Procedures.

	    Omitted.


  Item 9B. Other Information.

            None.


                                PART III

  Item 10. Directors, Executive Officers and Corporate Governance.

            Omitted.


  Item 11. Executive Compensation.

            Omitted.

  Item 12. Security Ownership of Certain Beneficial Owners and
           Management and Related Stockholder Matters.

            Omitted.


  Item 13. Certain Relationships and Related Transactions, and Director
           Independence.

            Omitted.


  Item 14. Principal Accounting Fees and Services.

            Omitted.


                ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB

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

            No single obligor represents 10% or more of the pool assets held
            by this transaction.


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



            No entity or group of affiliated entities provides any external
            credit enhancement or other support for the certificates within
            this transaction.

            No entity or group of affiliated entities provides derivative
            instruments with an aggregate significance percentage of 10%
            or more.


  Item 1117 of Regulation AB, Legal Proceedings.

            The following information (other than the final sentence) has
	been provided to the Depositor by New Century Mortgage Corporation
	("New Century Mortgage"), an indirect wholly owned subsidiary of
	New Century Financial Corporation (the "Company").

	Securities Class Action Litigation
	On February 8, 2007, Avi Gold filed a securities class action
	complaint in the United States District Court for the Central
	District of California against the Company and certain of its
	directors and officers (the "Original Complaint").  The Original
	Complaint alleges that defendants violated federal securities
	laws by issuing false and misleading statements and failing
	to disclose material facts about the Company, which resulted
	in artificially inflated market prices of the Company's common
	stock.  The purported class period is between April 7, 2006
	and February 7, 2007.  The Original Complaint seeks money
	damages in favor of its purported class of purchasers of the
	Company's securities, the costs and expenses of the action
	and other relief that may be granted by the court.

	The Company has also learned that seventeen additional purported
	class actions were filed in the United States District Court for
	the Central District of California between February 8, 2007 and
	March 16, 2007.  These complaints, some of which the Company has
	not yet been served with and which name the Company and certain
	of its officers and directors as defendants, present in large
	degree the same legal and factual issues as the Original
	Complaint and allege various class periods, the longest of
	which is from April 7, 2006 to March 2, 2007.  One of these
	class actions has been brought on behalf of the holders of the
	Company's 9.125% Series A Cumulative Redeemable Preferred Stock
	("Series A Preferred Stock") and the holders of the Company's
	9.75% Series B Cumulative Redeemable Preferred Stock ("Series
	B Preferred Stock").  Another of these class actions has been
	brought on behalf of the holders of the Company's Series B
	Preferred Stock.  The Company anticipates that similar actions
	on behalf of holders of the 	Company's common stock, Series
	A Preferred Stock and Series B Preferred Stock may be filed in
	the future.  The Company intends to review the allegations in
	these complaints and respond appropriately.  The Company's
	management intends to vigorously defend these claims; however,
	an unfavorable outcome in these cases or future securities class
	action cases could have a material adverse effect on the
	Company's financial condition.

	Shareholder Derivative Complaint

	The Company was served with a shareholder derivative complaint
	on March 1, 2007, filed in the Superior Court of California,
	County of Orange.  The complaint alleges breach of fiduciary
	duty, abuse of control, gross mismanagement, waste of corporate
	assets, unjust enrichment, and violations of California
	Corporations Code 25402 and seeks damages for breach, disgorgement,
	equitable relief, costs and fees.  The case is in the very
	preliminary stages.

	The Company has also learned that five additional shareholder
	derivative actions were filed in the Superior Court of
	California, County of Orange between February 8, 2007 and
	March 16, 2007 and two additional shareholder derivative
	actions were filed in the United States District Court for
	the Central District of California during this same time period.
	These complaints, some of which the Company has not yet been
	served with and which name the Company and certain of its
	officers and directors as defendants, present in large degree
	the same legal and factual issues as the original shareholder
	derivative complaint.  The Company anticipates that similar
	actions may be filed in the future.  The Company intends to
	review the allegations in these complaints and respond
	appropriately.

	U.S. Attorney's Office Investigation

	On February 27, 2007, the Company received a letter from the
	United States Attorney's Office for the Central District of
	California (the "U.S. Attorney's Office") indicating that
	it was conducting a criminal inquiry under the federal
	securities laws in connection with trading in the Company's
	securities, as well as accounting errors regarding the
	Company's allowance for repurchase losses.  The Company has
	subsequently received a grand jury subpoena requesting
	production of certain documents.  The Company intends to
	cooperate with the requests of the U.S. Attorney's Office.

	SEC Investigation

	On March 7, 2007, the Company received a letter from the
	Pacific Regional Office of the Securities and Exchange
	Commission (the "SEC") requesting that NCFC preserve certain
	documents.  On March 12, 2007, the Company received a letter
	from the staff of the Pacific Regional Office of the SEC
	stating that the staff was conducting a preliminary investigation
	involving the Company and requesting production of certain
	documents. The staff of the SEC had also previously requested
	a meeting with the Company to discuss the events leading up to
	the Company's previous announcement of the need to restate
	certain of its historical financial statements.  The Company
	intends to cooperate with the requests of the SEC.

	State Regulatory Actions

	The Company has been engaged in recent ongoing discussions with its
	state regulators regarding the Company's funding constraints and
	the impact on consumers who are in various stages of the loan
	origination process with the Company.  The Company has advised
	these regulators that it has ceased accepting loan applications.
	In addition, the Company has advised these regulators that at this
	time, the Company and its subsidiaries are unable to fund any mortgage
	loans, including mortgage loans for those consumers who were already
	in the loan origination process with the Company.  The Company has
	been and is continuing to work cooperatively with these regulators
	to mitigate the impact on the affected consumers, including
	transferring pending loans and loan applications to other mortgage
	lenders.  The Company has also been providing daily reports to its
	various regulators regarding the status of loans in process in their
	states, as well as responding to ad hoc information requests.

	The Company received cease and desist orders from the States of
	Massachusetts, New Hampshire, New Jersey and New York on March
	13, 2007 (collectively, the "March 13 Orders").  New Century Mortgage
	additionally received a Suspension Order from the state of New York
	on March 13, 2007 (the "NCMC Suspension Order").  The NCMC Suspension
	Order suspends New Century Mortgage's mortgage banking license in
	the State of New York for a period not to exceed 30 days, pending
	investigation.  On March 14 and 15, 2007, the Company received
	additional cease and desist orders from the States of Connecticut,
	Maryland, Rhode Island and Tennessee (collectively, the "March
	14-15 Orders").  The March 13 Orders and the March 14-15 Orders
	contain allegations that certain of the Company's subsidiaries
	have engaged in violations of applicable state law, including,
	among others, failure to fund mortgage loans after closing.
	Additionally, on March 14, 2007, New Century Mortgage and Home123
	entered into a Consent Agreement and Order with the Commonwealth
	of Pennsylvania Department of Banking, Bureau of Supervision
	and Enforcement (the "Pennsylania Consent Agreement").

	The March 13 Orders, the March 14-15 Orders and the Pennsylvania
	Consent Agreement restrain the Company's subsidiaries from taking
	certain actions, including, among others, engaging in alleged
	violations of state law and taking new applications for mortgage
	loans in the relevant jurisdiction.  The March 13 Orders, the
	March 14-15 Orders and the Pennsylvania Consent Agreement also
	compel the subsidiaries to affirmatively take certain actions,
	including the creation of escrow accounts to hold any upfront
	fees collected in connection with pending mortgage applications,
	the transfer to other lenders of the outstanding mortgage applications
	and unfunded mortgage loans held by the subsidiaries, and the
	provision of regular information to the state regulators regarding
	the subsidiaries' activities in the applicable state, including
	the status of all outstanding mortgage applications and unfunded
	mortgage loans in that state.  The cease and desist order received
	from the Rhode Island Department of Business Regulatio 	on March
	14 suspends the licenses of one or more of the Company's subsidiaries
	and seeks to assess administrative penalties.

	The Company and its subsidiaries requested hearings on the cease
	and desist orders issued by regulators in Maryland, Massachusetts,
	Connecticut and Rhode Island on March 23, 2007, and in Tennessee
	on March 27, 2007.

	On March 14, 2007, the Attorney General of Ohio and the Ohio
	Department of Commerce, Division of Financial Institution
	(together, the "State") filed a lawsuit against the Company,
	New Century Mortgage and Home123 (collectively, the "Defendants")
	on March 14, 2007 in Ohio state court (the "Ohio Complaint").
	The Ohio Complaint alleges that the Company has engaged in
	violations of applicable state law, including, among others,
	failure to fund mortgage loans after closing.  Also on March 14,
	2007, the court granted the State's motion to enter a temporary
	restraining order, which was subsequently modified by the court
	on March 16, 2007, against the Defendants (as modified, the "TRO").
	The TRO restrained the Defendants from taking certain actions,
	including, among others, (i) engaging in violations of state law,
	(ii) soliciting applicants and taking new applications for
	mortgage loans in Ohio and (iii) initiating, prosecuting or
	enforcing foreclosure actions in Ohio.  The TRO required the
	parties to confer with respect to restrictions regarding
	foreclosure action and the sale, transfer or assignment of
	loans more than 60 days delinquent.  On March 26, 2007, the
	Defendants filed a Motion for Dissolution of Modified Temporary
	Restraining Order and Motion for an Emergency Hearing, and
	Opposition to a Preliminary Injunction.  On March 28, 2007,
	the Defendants and the State reached agreement on a Stipulated
	Preliminary Injunction effective for 90 days and submitted
	it for court approval.  The Stipulated Preliminary Injunction
	replaces the TRO and provides for a stay of the litigation
	for 90 days.  The Stipulated Preliminary Injunction restrains
	the Defendants from taking certain actions, including, among
	others, engaging in alleged violations of state law and taking
	new applications for mortgage loans.  The Stipulated Preliminary
	Injunction also compels the Defendants to take certain actions,
	including the transfer to other lenders of any outstanding
	mortgage applications and unfunded mortgage loans, the placement
	in escrow of any upfront fees collected in connection with
	pending mortgage applications, and the provision of regular
	information to the State regarding the Company's activities
	in Ohio, including the status of all outstanding mortgage
	applications and unfunded mortgage loans.  The Stipulated
	Preliminary Injunction also requires the Defendants to submit
	certain loans (and related information) as to which it
	intends to foreclose to the State for the State to review.
	The State may object to the Company proceeding with a
	particular foreclosure and if the Company is unable to
	convince the State to permit it to proceed, the foreclosure
	will not proceed for the duration of the Stipulated
	Preliminary Injunction.  The Stipulated Preliminary
	Injunction also provides for the State to review and
	object to the Defendants selling, transferring or
	assigning certain loans that are more than 60 days
	delinquent.

	On March 16, 2007, the Company received additional cease and
	desist orders from the State of California (the "California
	Orders") and certain of the Company's subsidiaries entered
	into consent agreements with the State of Florida's Office
	of Financial Regulation and the State of Washington's
	Department of Financial Institutions, respectively, each
	dated March 16, 2007 (the "March 16 Agreements" and
	together with the California Orders, the "March 16 Orders
	and Consent Agreements").

 	The March 16 Orders and Consent Agreements contain
	allegations that certain of the Company's subsidiaries
	have engaged in violations of state law, including, among
	others, failure to fund mortgage loans after closing.
	The March 16 Orders and Consent Agreements restrain the
	Company's subsidiaries from taking certain actions, including,
	among others, engaging in alleged violations of state law
	and taking new applications for mortgage loans in the
	relevant jurisdiction.  The March 16 Orders and Consent
	Agreements also compel the subsidiaries to affirmatively
	take certain actions, including the creation of escrow
	accounts to hold any upfront fees collected in connection
	with pending mortgage applications, the transfer to other
	lenders of the outstanding mortgage applications and unfunded
	mortgage loans held by the subsidiaries, and the provision of
	regular information to the state regulators regarding the
	subsidiaries' activities in the applicable state, including
	the status of all outstanding mortgage applications and
	unfunded mortgage loans in that state.

	On March 16, 2007, Home123 received a suspension order
	(the "Home123 Suspension Order") from the State of New York
	Banking Department.  The Home123 Suspension Order  contains
	allegations similar to those included in the NCMC Suspension
	Order and further provides that Home123's mortgage banking
	license in the State of New York has been suspended for a
	period not exceeding 30 days, pending investigation.
	The Company and Home123 are reviewing the Home123 Suspension
	Order and accordingly have not yet determined whether they
	will appeal all or any portion of the Home123 Suspension Order.

	On March 20, 2007, the Company entered into a Combined
	Statement of Charges and Consent Order with the State of
	Iowa and a Consent Agreement and Order with the State of
	Maine Office of Consumer Credit Regulation, Department of
	Professional and Financial Regulation (together, the
	"March 20 Orders").  On March 21, 2007, the Company entered
	into a Consent Order with the State of Michigan, Department
	of Labor & Economic Growth, Office of Financial and Insurance
	Services and a Consent Order with the State of Wyoming Banking
	Commission (the "March 21 Orders").  On March 23, 2007, the
	Company entered into a Consent Agreement and Order with the
	State of Idaho Department of Finance (the "March 23 Order").
	Similar to the consent agreements described above, the March
	20, 21 and 23 Orders contain allegations that certain of the
	Company's subsidiaries have engaged in violations of state
	law, including, among others, failure to fund mortgage loans
	after closing.  They restrain the Company's subsidiaries from
	taking certain actions, including, among others, engaging in
	alleged violations of state law and taking new applications for
	mortgage loans in the relevant jurisdiction.  They also compel
	the subsidiaries to affirmatively take certain actions,
	including the creation of escrow accounts to hold any upfront
	fees collected in connection with pending mortgage applications,
	the transfer to other lenders of the outstanding mortgage
	applications and unfunded mortgage loans held by the
	subsidiaries, and the provision of regular information to the
	state regulators regarding the subsidiaries' activities in the
	applicable state, including the status of all outstanding
	mortgage applications and unfunded mortgage loans in that state.

	The Company anticipates that cease and desist orders will
	continue to be received by the Company and its subsidiaries
	from additional states in the future and that the Company
	and its subsidiaries may enter into additional consent
	agreements similar to those described above.

	The Company intends to continue to cooperate with its regulators
	in order to mitigate the impact on consumers resulting from the
	Company's funding constraints.

	Under the terms of the pooling and servicing agreement, the Sponsor
	makes all the representations and warranties with respect to
	the Mortgage Loans. No originator makes any representations and
	warranties for the benefit of the certificateholders.


  Item 1119 of Regulation AB, Affiliations and Certain Relationships and
             Related Transactions.


            No changes to the information provided in the prospectus.

  Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria.


 	The assessment of compliance of Litton Loan Servicing LP ("Litton")
	has disclosed material noncompliance with criteria 1122(d)(2)(vii)(D)
	and 1122(d)(4)(ix). Certain investor bank account reconciliations
	included certain reconciling items that were not resolved within
	90 calendar days of their original identification on eleven of
	sixty-three investor bank account reconciliations.  The sum of the
	reconciling items for those eleven reconciliations was $216,950.

	Also, among a sample of sixty-five adjustable rate mortgages there
	were two instances where certain adjustable rate mortgages for which
	the interest rate reset in the servicing system did not agree to
	interest rates in the appropriate source index per the borrowers
	note documents.  These were the result of incorrect information
	transferring from the prior servicer.  Additionally, the same
	sixty-five mortgages included one instance where the adjustable rate
	mortgage payment change date in the servicing system did not agree to
	the loan documents.


    See Item 15, exhibit 33 and 34.



  Item 1123 of Regulation AB, Servicer Compliance Statement.


            The servicer compliance statements are attached hereto under
	    Item 15.





                                PART IV

  Item 15. Exhibits, Financial Statement Schedules.

   (a)(3) Exhibits

    (4.1) Pooling and Servicing Agreement, dated as of July 1, 2006, by and
	among Asset Backed Funding Corporation, Credit-Based Asset Servicing
	and Securitization LLC, Litton Loan Servicing LP and U.S. Bank
	National Association (including exhibits), incorporated by reference
	from Exhibit 4.1 of the registrant's Current Report on Form 8-k
	filed on August 15, 2006.

    (10.1) Custodial Agreement, dated as of July 1, 2006, by and among
	U.S. Bank National Association (including exhibits), incorporated
	by reference from Exhibit 10.1 of the registrant's Current
	Report on Form 8-k filed on August 15, 2006.

    (31) Rule 13a-14(d)/15d-14(d) Certifications.

    (33) Reports on assessment of compliance with servicing criteria for
         asset-backed securities.

      a) Litton Loan Servicing LP, as Servicer
      b) U.S. Bank National Association, as Trustee
      c) The Bank of New York, as Custodian


     (34) Attestation reports on assessment of compliance with servicing
          criteria for asset-backed securities.

      a) Litton Loan Servicing LP, as Servicer
      b) U.S. Bank National Association, as Trustee
      c) The Bank of New York, as Custodian

     (35) Servicer compliance statement.

      a) Litton Loan Servicing LP, as Servicer


   (b) See 15(a)(3).

   (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.



     C-BASS 2006-CB6 Trust
    by:  Litton Loan Servicing LP, as Servicer

    /s/ Elizabeth Folk
    Senior Vice President and Chief Financial Officer
    (senior officer in charge of the servicing function of the servicer)

    Date:      March 30, 2007

  Supplemental information to be furnished with reports filed
  pursuant to seciton 15(d) of the Act by Registrants which have
  not registered securities pursuant to Section 12 of the Act.

  No annual report, proxy statement, form of proxy or other proxy
  solicitating material has been sent to certificateholders, and
  the registrant does not presently contemplate sending any such
  materials subsequent to the filing of this report.


  Exhibit Index

  Exhibit No.

     (4.1) Pooling and Servicing Agreement, dated as of July 1, 2006, by and
	among Asset Backed Funding Corporation, Credit-Based Asset Servicing
	and Securitization LLC, Litton Loan Servicing LP and U.S. Bank
	National Association (including exhibits), incorporated by reference
	from Exhibit 4.1 of the registrant's Current Report on Form 8-k
	filed on August 15, 2006.

    (10.1) Custodial Agreement, dated as of July 1, 2006, by and among
	U.S. Bank National Association (including exhibits), incorporated
	by reference from Exhibit 10.1 of the registrant's Current
	Report on Form 8-k filed on August 15, 2006.

    (31) Rule 13a-14(d)/15d-14(d) Certifications.

    (33) Reports on assessment of compliance with servicing criteria for
         asset-backed securities.

      a) Litton Loan Servicing LP, as Servicer
      b) U.S. Bank National Association, as Trustee
      c) The Bank of New York, as Custodian


     (34) Attestation reports on assessment of compliance with servicing
          criteria for asset-backed securities.

      a) Litton Loan Servicing LP, as Servicer
      b) U.S. Bank National Association, as Trustee
      c) The Bank of New York, as Custodian

     (35) Servicer compliance statement.

      a) Litton Loan Servicing LP, as Servicer