First Franklin mortgage loan trust mortgage passthrough certificates series 2006FFA and 2006FFB
18 November 2013
On June 7, 2012 Law Debenture Trust Company of New York was appointed to the role of separate trustee for First Franklin Mortgage Loan Trust Series 2006-FFA and 2006-FFB. Since that time, working with and at the direction of certain investors, Law Debenture as separate trustee, has successfully demanded the repurchase by the responsible party of 256 defective mortgage loans for Series FFA and 322 defective mortgage loans for Series FFB. This has resulted in gross payments of approximately $30,700,000 to the Series 2006-FFA trust and $37,800,000 to the Series 2006-FFB trust. Negotiations with the responsible party regarding their repurchase obligations are ongoing.