Exhibit 12(b)


                CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
                       AS ADOPTED PURSUANT TO SECTION 906
                        OF THE SARBANES-OXLEY ACT OF 2002

I, Galen G. Vetter, Chief Executive Officer of the FRANKLIN STRATEGIC MORTGAGE
PORTFOLIO (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350 as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my
knowledge:

     1.   The periodic report on Form N-CSR of the Registrant for the period
          ended 9/30/2008 (the "Form N-CSR") fully complies with the
          requirements of Section 13(a) or 15(d) of the Securities Exchange Act
          of 1934; and

     2.   The information contained in the Form N-CSR fairly presents, in all
          material respects, the financial condition and results of operations
          of the Registrant.

Dated: 11/25/2008


                                        S\ GALEN G. VETTER

                                        Galen G. Vetter
                                        Chief Executive Officer - Finance and
                                        Administration







                CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
                       AS ADOPTED PURSUANT TO SECTION 906
                        OF THE SARBANES-OXLEY ACT OF 2002

I, Laura F. Fergerson, Chief Financial Officer of the FRANKLIN STRATEGIC
MORTGAGE PORTFOLIO (the "Registrant"), certify, pursuant to 18 U.S.C. Section
1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that,
to my knowledge:

     1.   The periodic report on Form N-CSR of the Registrant for the period
          ended 9/30/2008 (the "Form N-CSR") fully complies with the
          requirements of Section 13(a) or 15(d) of the Securities Exchange Act
          of 1934; and

     2.   The information contained in the Form N-CSR fairly presents, in all
          material respects, the financial condition and results of operations
          of the Registrant.

Dated: 11/25/2008


                                        S\ LAURA F. FERGERSON

                                        Laura F. Fergerson
                                        Chief Financial Officer and
                                        Chief Accounting Officer