UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 15


CERTIFICATION  AND NOTICE OF TERMINATION OF REGISTRATION  UNDER SECTION 12(g) OF
THE SECURITIES  EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER
SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.


                         Commission File Number   333-32857-02

                        ASSET BACKED FUNDING CORPORATION
             (Exact name of registrant as specified in its charter)

     100 North Tyron Sreet, Charlotte, North Carolina, 28255 (703) 386-2400
(Address,  including zip code,  and telephone  number,  including  area code, of
registrant's principal executive offices)


                Asset Backed Funding Certificates, Series 1999-1
            (Title of each class of securities covered by this Form)


                                      None
       (Titles of all other classes of securities for which a duty to file
                  reports under section 13(a) or 15(d) remains)


    Please  place  an X in  the  box(es)  to  designate,  the  appropriate  rule
provision(s) relied upon to terminate or suspend the duty to file reports:

  Rule 12g-4(a)(1)(i)                                 Rule 12h-3(b)(1)(i)     X
  Rule 12g-4(a)(1)(ii)                                Rule 12h-3(b)(1)(ii)
  Rule 12g-4(a)(2)(i)                                 Rule 12h-3(b)(2)(i)
  Rule 12g-4(a)(2)(ii)                                Rule 12h-3(b)(2)(ii)
                                                      Rule 15d-6              X

    Approximate  number of holders of record as of the  certification  or notice
date:  6

     Pursuant to the requirements of the Securities  Exchange Act of 1934, Asset
Backed Funding Corporation has caused this  certification/notice to be signed on
its behalf by the undersigned duly authorized person.

           JPMorgan Chase Bank in its capacity as Trustee
           under the Pooling and Servicing Agreement on behalf of
           Asset Backed Funding Corporation, Registrant


Date: January 30, 2003    By: /s/  Diane E. Wallace
                            ------------------------------------
                             Diane E. Wallace
                             Assistant Vice President
                             JPMorgan Chase Bank as Trustee