Fitch Affirms 51 RMBS Classes from 6 ABFC Issues.

NEW YORK -- Fitch Ratings affirms the following Asset Backed Funding Corporation (ABFC), asset-backed issues:

Series 2004-FF1, Groups 1 and 2:

-- Classes A-1 and A-2 at 'AAA';

-- Class M-1 at 'AA';

-- Class M-2 at 'A';

-- Class M-3 at 'A-';

-- Class M-4 at 'BBB+';

-- Class M-5 at 'BBB';

-- Class M-6 at 'BBB-'.

Series 2004-OPT1, Groups 1 and 2:

-- Classes A-1, A-1A and A-2 at 'AAA';

-- Class M-1 at 'AA+';

-- Class M-2 at 'A+';

-- Class M-3 at 'A';

-- Class M-4 at 'A-';

-- Class M-5 at 'BBB+';

-- Class M-6 at 'BBB'.

Series 2004-OPT2, Groups 1 and 2:

-- Classes A-1, A-1A and A-2 affirmed at 'AAA';

-- Class M-1 at 'AA+';

-- Class M-2 at 'AA-';

-- Class M-3 at 'A+';

-- Class M-4 at 'A';

-- Class M-5 at 'BBB+';

-- Class M-6 at 'BBB';

-- Class B at 'BB+'.

Series 2004-OPT3, Groups 1 and 2:

-- Classes A-1 and A-4 affirmed at 'AAA';

-- Class M-1 at 'AA';

-- Class M-2 at 'A';

-- Class M-3 at 'A';

-- Class M-4 at 'A-';

-- Class M-5 at 'BBB';

-- Class M-6 at 'BBB-'.

Series 2004-OPT4, Groups 1 and 2:

-- Classes A-1 and A-2 at 'AAA';

-- Class M-1 at 'AA';

-- Class M-2 at 'A+';

-- Class M-3 at 'A';

-- Class M-4 at 'A-';

-- Class M-5 at 'BBB+';

-- Class M-6 at 'BBB-'.

Series 2004-OPT5, Groups 1 and 2:

-- Classes A-1, A-2, A-3 and A-4 at 'AAA';

-- Class M-1 at 'AA';

-- Class M-2 at 'A';

-- Class M-3 at 'A-';

-- Class M-4 at 'BBB+'.

The affirmations reflect satisfactory credit enhancement (CE) relationships to future loss expectations and affect approximately $1.9 billion of outstanding certificates as of the Feb. 27, 2006 distribution date. Each of the above classes has experienced growth in CE since closing.

The underlying collateral in these transactions consists of fixed- and adjustable-rate mortgage loans secured by first and second liens on one- to four-family residential properties. The originator for the 2004-FF1 series was First Franklin Financial Corporation. The originator for all the other transactions was Option One Mortgage Corporation. Bank of America N.A. acquired these loans from the originators and sold the loans to ABFC, the depositor.

With the exception of 2004-FF1 and 2004-OPT1, all the other transactions also benefit from varying amounts of lender-paid mortgage insurance. Countrywide Home Loans Servicing LP is the servicer for the loans in series 2004-FF1, and Option One Mortgage Corporation is the servicer for the remaining loans. Both of these are rated 'RPS1' by Fitch for Subprime transactions.

The transactions are seasoned from a range of 16 months (series 2004-OPT5) to 25 months (series 2004-OPT1). The pool factors (i.e., current mortgage loans outstanding as a percentage of initial pool) range from 29.25% (series 2004-OPT1) to 54.19% (series 2004-OPT5). The cumulative losses as a percentage of original collateral balances range from 0.03% (series 2004-OPT5) to 0.21% (series 2004-OPT1).The overcollateralization (OC) is at or near the target OC for all the transactions.

Further information regarding delinquencies, losses and CE is available on the Fitch Ratings web site at 'www.fitchratings.com'.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.