Exhibit 99.1

      Pursuant to a Form 8-K filed on March 7, 2007 by Fremont General
Corporation ("Fremont General"), the parent of a responsible party in connection
with the Securities Asset Back Receivables LLC Trust 2006 - FR4 Mortgage
Pass-Through Certificates, Fremont Investment & Loan ("Fremont"), Fremont
General announced that it, Fremont and Fremont General's wholly owned
subsidiary, Fremont General Credit Corporation, entered into a voluntary formal
agreement, designated as a cease and desist order, with the Federal Deposit
Insurance Corporation. According to the announcement, the cease and desist order
requires, among other things, Fremont to cease and desist from the following:

      o     Operating with management whose policies and practices are
            detrimental to Fremont;

      o     Operating Fremont without effective risk management policies and
            procedures in place in relation to Fremont's brokered subprime
            mortgage lending and commercial real estate construction lending
            businesses;

      o     Operating with inadequate underwriting criteria and excessive risk
            in relation to the kind and quality of assets held by Fremont;

      o     Operating without an accurate, rigorous and properly documented
            methodology concerning its allowance for loan and lease losses;

      o     Operating with a large volume of poor quality loans;

      o     Engaging in unsatisfactory lending practices;

      o     Operating without an adequate strategic plan in relation to the
            volatility of Fremont's business lines and the kind and quality of
            assets held by Fremont;

      o     Operating with inadequate capital in relation to the kind and
            quality of assets held by Fremont;

      o     Operating in such a manner as to produce low and unsustainable
            earnings;

      o     Operating with inadequate provisions for liquidity in relation to
            the volatility of Fremont's business lines and the kind and quality
            of assets held by Fremont;

      o     Marketing and extending adjustable-rate mortgage products to
            subprime borrowers in an unsafe and unsound manner that greatly
            increases the risk that borrowers will default on the loans or
            otherwise cause losses to Fremont, including (1) adjustable-rate
            mortgage products that qualify borrowers for loans with low initial
            payments based on an introductory rate that will expire after an
            initial period, without adequate analysis of the borrower's ability
            to repay at the fully indexed rate, (2) adjustable-rate mortgage
            products containing features likely to require frequent refinancing
            to maintain affordable monthly payment or to avoid foreclosure, and
            (3) loans or loan arrangements with loan-to-value ratios approaching
            or exceeding 100 percent of the value of the collateral;

      o     Making mortgage loans without adequately considering the borrower's
            ability to repay the mortgage according to its terms;

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      o     Operating in violation of Section 23B of the Federal Reserve Act, in
            that Fremont engaged in transactions with its affiliates on terms
            and under circumstances that in good faith would not be offered to,
            or would not apply to, nonaffiliated companies; and

      o     Operating inconsistently with the Federal Deposit Insurance
            Corporation's Interagency Advisory on Mortgage Banking and
            Interagency Expanded Guidance for Subprime Lending Programs.

      According to the announcement, the cease and desist order also requires
Fremont to take a number of steps, including (1) having and retaining qualified
management; (2) limiting Fremont General's and Fremont General Credit
Corporation's representation on Fremont's board of directors and requiring that
independent directors comprise a majority of Fremont's board of directors; (3)
revising and implementing written lending policies to provide effective guidance
and control over Fremont's residential lending function; (4) revising and
implementing policies governing communications with consumers to ensure that
borrowers are provided with sufficient information; (5) implementing control
systems to monitor whether Fremont's actual practices are consistent with its
policies and procedures; (6) implementing a third-party mortgage broker
monitoring program and plan; (7) developing a five-year strategic plan,
including policies and procedures for diversifying Fremont's loan portfolio; (8)
implementing a policy covering Fremont's capital analysis on subprime
residential loans; (9) performing quarterly valuations and cash flow analyses on
Fremont's residual interests and mortgage servicing rights from its residential
lending operation, and obtaining annual independent valuations of such interests
and rights; (10) limiting extensions of credit to certain commercial real estate
borrowers; (11) implementing a written lending and collection policy to provide
effective guidance and control over Fremont's commercial real estate lending
function, including a planned material reduction in the volume of funded and
unfunded nonrecourse lending and loans for condominium conversion and
construction as a percentage of Tier I capital; (12) submitting a capital plan
that will include a Tier I capital ratio of not less than 14% of Fremont's total
assets; (13) implementing a written profit plan; (14) limiting the payment of
cash dividends by Fremont without the prior written consent of the Federal
Deposit Insurance Corporation and the Commissioner of the California Department
of Financial Institutions; (15) implementing a written liquidity and funds
management policy to provide effective guidance and control over Fremont's
liquidity position and needs; (16) prohibiting the receipt, renewal or rollover
of brokered deposit accounts without obtaining a Brokered Deposit Waiver
approved by the Federal Deposit Insurance Corporation; (17) reducing adversely
classified assets; and (18) implementing a comprehensive plan for the
methodology for determining the adequacy of the allowance for loan and lease
losses.

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