UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 10, 2007
Commission file number of the issuing entity: 333-130524-06
C-BASS 2007-CB5 Trust
(Exact name of issuing entity as specified in its charter)
Commission file number of depositor: 333-130524
Asset Backed Funding Corporation
(Exact name of depositor as specified in its charter)
Credit-Based Asset Servicing and Securitization LLC
(Exact name of sponsor as specified in its charter)
| | New York | | 75-2533468 | |
| | (State or Other Jurisdiction of Incorporation) | | (I.R.S. Employer Identification No.) | |
| | | | | | | |
| | 214 North Tryon Street Charlotte, North Carolina | | 28255 | |
| | (Address of Principal Executive Offices) | | (Zip Code) | |
Registrant’s telephone number, including area code, is (212) 386-2400
No Change
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 6 - Asset-Backed Securities
Item 6.02 Change of Servicer or Trustee
Effective December 10, 2007 Goldman Sachs Bank USA has acquired Litton Loan Servicing L.P. (“Litton”) from Credit-Based Asset Servicing and Securitization LLC (C-BASS) (the “Acquisition”).
SIGNATURES*
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | | Asset Backed Funding Corporation |
Date: | December 13, 2007 | | /s/ Chris Schiavone |
| | | | Name: Chris Schiavone |
| | | | Title: Principal |
