SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 10-K/A

[X]      Annual  report  pursuant  to  Section  13 or  15(d)  of the Securities
         Exchange   Act  of  1934 for the fiscal year ended December 31, 2000

[  ]     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 333-32857-03

                        ASSET BACKED FUNDING CORPORATION
             (Exact name of registrant as specified in its charter)


       Delaware                                           75-2533468
 (State or other jurisdiction of               (IRS Employer Identification No.)
     incorporation)

100 North Tryon Street
Charlotte, North Carolina                                   28255
(Address pof principal executive offices)                (Zip Code)

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

        C-BASS Mortgage Loan Asset-Backed Certificates, Series 2000-CB2
            (Title of each class of securities covered by this Form)

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 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 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/A or any  amendment to
this Form 10-K/A. [X]

Documents incorporated by reference:  None



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                           AMENDMENT NUMBER 1 OF 1



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ASSET BACKED FUNDING CORPORATION
C-BASS Mortgage Loan Asset-Backed Certificates, Series 2000-CB2
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PART IV

Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K

(a) The following documents are filed as part of this report:

    (1) Financial Statements:
         Omitted.

    (2)  Financial Statement Schedules:
         Omitted.

    (3)  Exhibits:

   Annual  Servicer  Statements of  Compliance,  filed as Exhibit 99.1 hereto.
   Annual Statement of  Independent  Accountants  Report for the Servicer,
         filed as Exhibit 99.2 hereto.

(b)  Reports on Form 8-K: The  following  Current  Reports on Form 8-K were
     filed by the Registrant during the last quarter of 2000.

     Current  Reports   on Form 8-K,   dated   October 25, 2000,  November 27,
     2000,  and  December  26,  2000,  were filed for the  purpose of filing the
     Monthly  Statement  sent to the  Holders of the  Offered  Certificates  for
     payments made on the same dates.  The items reported in such Current Report
     were Item 5 (Other Events).


(c)   Exhibits to this report are listed in Item (14)(a)(3) above.

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SIGNATURE

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.


                                    THE CHASE MANHATTAN BANK,
                                    not in its individual capacity but solely
                                    as Trustee under the Agreement referred
                                    to herein


Date: December 13, 2001             By:  /s/  Karen Schluter
                                        Karen Schluter
                                        Assistant Vice President



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                                 EXHIBIT INDEX

Exhibit     Description

 99.1       Servicer's Annual Statements of Compliance
 99.2       Servicer's Annual Independent Accountant's Report



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EXHIBIT 99.1 - Servicer's Annual Statement of Compliance


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LITTON LOAN SERVICING, LP
a subsidiary of Enhance Financial Services Group Inc.

5373 West Alabama, Suite 600                 Telephone 713.960.9676
Houston, Texas  77056                         Fax 713.966.8856





                            Litton Loan Servicing LP
             Compliance Certification Year Ended December 31, 2000
                            C-BASS, Series 2000-CB2

     The undersigned  Officer of Litton Loan Servicing LP certifies that for the
year ended  December  31,  2000,  Litton has  complied  with Section 3.27 of the
Pooling and Servicing Agreement by and between Asset Backed Funding Corporation,
Inc., as Depositor,  Credit-Based  Asset  Servicing and  Securitization  LLC, as
seller,  The Chase  Manhattan  Bank, as Trustee and Litton Loan Servicing LP, as
Servicer, dated May 1, 2000, as they relate to the Internal Revenue Service
Information reporting requirements including those under Sections 6050J.

By:  /s/ Janice McClure                Dated:   May 8, 2001
      Janice McClure
     Senior Vice President



State of Texas

County of Harris

On May 8, 2001, before me a Notary Public in and for said state, personally
appeared Janice McClure of Litton Loan Servicing LP, personally known to me
to be the person whose name is subscribed to the within the instrument and
acknowledged to me that he executed that same in his authorized capacity,
and that by his signature on the instrument, the entity upon behalf of which
the person acted executed the instrument.

WITNESS my hand and official seal.

/s/ Laurie Struecker
Laurie Struecker
Notary Public
State of Texas
My Comm. Exp 02-04-2002


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LITTON LOAN SERVICING, LP
a subsidiary of Enhance Financial Services Group Inc.

5373 West Alabama, Suite 600                 Telephone 713.960.9676
Houston, Texas  77056                         Fax 713.966.8856




March 30, 2001

Karen Schluter
The Chase Manhattan Bank
450 West 33rd Street, 14th floor
New York, New York  10001-2697

Subject:  C-BASS 2000-CB2

To Whom it May Concern:

The undersigned  officer of Litton Loan Servicing LP (successor in interest
to  Litton  Loan  Servicing,  Inc.)  certifies  that a review  of the  servicing
activity for the year ended  December 31, 2000 has been completed and that there
were no defaults or  exceptions  to the  requirements  of the subject  agreement
between the  above-listed  parties.  Litton Loan  Servicing LP hereby  certifies
that:

1. All ad valorem taxes have been paid when due and without  penalty to the
   Trust.

2. All assessments and ground rents of whatsoever kind or nature have been
paid so as to prevent their taking  priority to the purchase  money lien or lien
to which the trust is entitled.

3. All  casuality  insurance has been paid without lapse in coverage and in
an amount sufficient to prevent the application of a co-insurance clause.

4. In compliance  with terms of the agreement,  flood insurance as required
by the National Flood Insurance Act of 1994, P.L. 103-325 $511, if any, has been
maintained without lapse.

5. Errors and  Omissions  Insurance is in forced in amounts  sufficient  to
meet the requirements of Federal  National  Mortgage  Association,  Federal Home
Loan Mortgage Corporation and the terms of the subject agreement.

6. Litton Loan Servicing LP has timely filed the required IRS informational
returns including the forms 1098,  1099(A),  and those required by code sections
6050(h)(j)(p) for the year ended December 31, 2000.

7. Litton Loan  Servicing LP has not committed any act or omitted to act in
any manner  that  would  cause the trust to lose the REMIC tax  treatment  or be
taxed on prohibited transaction.

8. All other items and requirements of the Servicing  Agreement between the
above parties have been complied with except as noted on the  attachment to this
letter if any.

Sincerely,

Litton Loan Servicing LP

/s/ Janice McClure
Janice McClure
Senior Vice President

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LITTON LOAN SERVICING, LP
a subsidiary of Enhance Financial Services Group Inc.

5373 West Alabama, Suite 600                 Telephone 713.960.9676
Houston, Texas  77056                         Fax 713.966.8856


January 12, 2001

As of December 31, 2000, Litton Loan Servicing LP has complied in all material
respects with the minimum servicing set forth in the Mortgage Bankers
Association of America's Uniform Single Attestion Program for Mortgage Bankers.
As of and for this same period, Litton Loan Servicing LP had in effect a
fidelity bond in the amount of $10,000,000 and an errors and omissins policy in
the amount of $10,000,000.


/s/ Larry B. Litton, Sr.
      Larry B. Litton, Sr., President & CEO



/s/ Janice McClure
      Janice McClure, Senior Vice President



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EXHIBIT 99.2 - Servicer's Annual Independent Accountant's Report


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Deloitte & Touche LLP
Suite 2300
333 Clay Street
Houston, Texas  77002

INDEPENDENT AUDITORS' REPORT

To the Partners of
        Litton Loan Servicing LP:

We have examined  management's  assertion  about Litton Loan Servicing LP's
(the "Company") compliance with the minimum servicing standards identified in
the Mortgage Bankers Association of America's Uniform Single Attestation Program
for Mortgage  Bankers as of and for the year ended December 31, 2000,  included
in the  accompanying  management  assertion.  Management is responsible  for the
Company's compliance with those minimum servicing standards. Our responsibility
is  to  express  an  opinion  on  management's  assertion  about  the  Company's
compliance based on our examination.

     Our examination  was made in accordance  with standards  established by the
American  Institute of Certified Pubic  Accountants and,  accordingly,  included
examining, on a test basis, evidence about the Company's compliance with minimum
servicing  standards  and  performing  such other  procedures  as we  considered
necessary  in the  circumstances.  We believe  that our  examination  provides a
reasonable  basis for our  opinion.  Our  examination  does not  provide a legal
determination of the Company's compliance with the minimum servicing standards.

     In our opinion,  management's  assertion that the Company complied with the
aforementioned minimum servicing standards as of and for the year ended December
31, 2000 is fairly stated, in all material respects.

January 12, 2001