UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-K

(Mark one)

/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2005

/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

Commission File Number: 333-127970-01

Asset Backed Funding Corporation
Asset Backed Certificates
Series 2005-WMC1

(Exact name of registrant as specified in its charter)

New York 54-2184218
(State or other jurisdiction of 54-2184219
incorporation or organization) 54-2184347
54-2184220
54-2184221
54-2184348
54-2184346
54-6675915
(I.R.S. Employer
Identification No.)

c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (410) 884-2000

Securities registered pursuant to Section 12(b) of the Act:

NONE.

Securities registered pursuant to Section 12(g) of the Act:

NONE.

Indicate by check mark if the registrant is a well-known seasoned issuer,
as defined in Rule 405 of the Securities Act.

Yes ___ No X

Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Section 15(d) of the Act.

Yes ___ No X

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

Yes X No ___

Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K ( 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K.

Not applicable.

Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, or a non-accelerated filer. See Definition of
"accelerated filer and large accelerated filer" in Rule 12b-2 of the
Exchange Act. (Check One):

Large Accelerated Filer ___ Accelerated Filer ___ Non-Accelerated Filer X

Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Act).

Yes ___ No X

State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at which
the common equity was last sold, or the average bid and asked price of
such common equity, as of the last business day of the registrant's most
recently completed second fiscal quarter.

Not applicable.

Documents Incorporated by Reference

List hereunder the following documents if incorporated by reference and
the Part of the Form 10-K (e.g. Part I, Part II, etc.) into which the
document is incorporated: (1)Any annual report to security holders; (2)
Any proxy or information statement; and (3)Any prospectus filed pursuant
to Rule 424(b) or (c) under the Securities Act of 1933. The listed
documents should be clearly described for identification purposes (e.g.
annual report to security holders for fiscal year ended December 24, 1980).

Not applicable.

Introductory Note

This Annual Report on Form 10-K is prepared in reliance on the no-action
letter dated March 26, 1993 issued by the Securities and Exchange Commission
to Nomura Asset Securities Corporation.

PART I
Item 1. Business.

Not applicable.

Item 1A. Risk Factors.

Not applicable.

Item 1B. Unresolved Staff Comments.

Not applicable.

Item 2. Properties.

Not applicable.

Item 3. Legal Proceedings.

The registrant knows of no material pending legal proceedings
involving the trust created under the Pooling and Servicing
Agreement (the Trust), the Trustee, the Servicer or the
registrant with respect to the Trust other than routine
litigation incidental to the duties of the respective parties.

Item 4. Submission of Matters to a Vote of Security Holders.

None.

PART II

Item 5. Market for Registrant's Common Equity, Related Stockholder
Matters and Issuer Purchases of Equity Securities.

No established public trading market for the Certificates exists.

Records provided to the Trust by the DTC and the Trustee
indicate that as of December 31, 2005, the total number of holders
of record for the Series of Certificates is 37.

Item 6. Selected Financial Data.

Not applicable.

Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operation.

Not applicable.

Item 7A. Quantitative and Qualitative Disclosures about Market Risk.

Not applicable.

Item 8. Financial Statements and Supplementary Data.

Omitted.

Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.

None.

Item 9A. Controls and Procedures.
Not applicable.

Item 9B. Other Information.

None.

PART III

Item 10. Directors and Executive Officers of the Registrant.

Not applicable.

Item 11. Executive Compensation.

Not applicable.

Item 12. Security Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters.

Not applicable.

Item 13. Certain Relationships and Related Transactions.

Not applicable.

Item 14. Principal Accounting Fees and Services.

Not applicable.

PART IV

Item 15. Exhibits, Financial Statement Schedules.

(a) The following is a list of documents filed as part of this Annual
Report on Form 10-K:

(4.1) Pooling and Servicing Agreement (filed as an exhibit to
Form 8-K on October 17, 2005).

(31.1) Rule 13a-14(a)/15d-14(a) Certification

(99.1) Annual Independent Accountants' Servicing Report concerning
servicing activities for the year ended December 31, 2005.

<s> <c>
a) HomEq Servicing Corporation, as Servicer <F1>

(99.2) Report of Management as to Compliance with Minimum Servicing
Standards for the year ended December 31, 2005.

<s> <c>
a) HomEq Servicing Corporation, as Servicer <F1>

(99.3) Annual Statements of Compliance under the Pooling and Servicing
Agreement for the year ended December 31, 2005.

<s> <c>
a) HomEq Servicing Corporation, as Servicer <F1>

(99.4) Schedule of Year-to-Date Principal and Interest Distributions to
Certificateholders.

(b) The exhibits required to be filed by Registrant pursuant to Item 601 of
Regulation S-K are listed above and in the Exhibit Index that immediately
follows the signature page hereof.

<F1> Filed herewith.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized:

Asset Backed Funding Corporation
Asset Backed Certificates
Series 2005-WMC1
(Registrant)

Signed: Asset Backed Funding Corporation, as Depositor

By: Danel B. Goodwin, President

By: /s/ Danel B. Goodwin, President

Dated: March 28, 2006

Exhibit Index

Exhibit No.

(4.1) Pooling and Servicing Agreement (filed as an exhibit to
Form 8-K on October 17, 2005).

(31.1) Rule 13a-14(a)/15d-14(a) Certification

(99.1) Annual Independent Accountants' Servicing Report concerning
servicing activities for the year ended December 31, 2005.

<s> <c>
a) HomEq Servicing Corporation, as Servicer <F1>

(99.2) Report of Management as to Compliance with Minimum Servicing
Standards for the year ended December 31, 2005.

<s> <c>
a) HomEq Servicing Corporation, as Servicer <F1>

(99.3) Annual Statement of Compliance under the Pooling and Servicing
Agreement for the year ended December 31, 2005.

<s> <c>
a) HomEq Servicing Corporation, as Servicer <F1>

(99.4) Schedule of Year-to-Date Principal and Interest Distributions to
Certificateholders.

Ex-31.1 Rule 13a-14(a)/15d-14(a) Certification

ABFC 2005-WMC1 TRUST,
ASSET-BACKED CERTIFICATES, SERIES 2005-WMC1

I, Danel B. Goodwin, certify that:

1. I have reviewed this annual report on Form 10-K, and all monthly
current reports on Form 8-K's containing distribution or servicing
reports filed in respect of periods included in the year covered by
this annual report, of the ABFC 2005-WMC1 Trust formed pursuant
to the Pooling and Servicing Agreement, dated as of September 1, 2005
(the "Agreement"), among Asset Backed Funding Corporation, as
depositor, HomEq Servicing Corporation, as Servicer (the "Servicer"),
and Wells Fargo Bank, N.A., as trustee (the "Trustee");

2. Based on my knowledge, the information in these reports, taken as a
whole, does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made,
not misleading as of the last day of the period covered by this
annual report;

3. Based on my knowledge, the distribution or servicing information
required to be provided to the Trustee by the Servicer under the
Agreement for inclusion in these reports is included in these reports;

4. Based on my knowledge and upon the annual compliance statement
included in the report and required to be delivered to the Trustee
in accordance with the terms of the Agreement, and except as
disclosed in the reports, the Servicer has fulfilled its obligations
under the Agreement; and

5. The reports disclose all significant deficiencies relating to the
Servicer's compliance with the minimum servicing standards based upon
the report provided by an independent public accountant, after
conducting a review in compliance with the Uniform Single Attestation
Program for Mortgage Bankers or similar procedure, as set forth in
the Agreement, that is included in these reports.

In giving the certifications above, I have reasonably relied on
information provided to me by the following unaffiliated parties:
HomEq Servicing Corporation and Wells Fargo Bank, N.A..

Date: March 28, 2006

/s/ Danel B. Goodwin
Signature

President
Title

EX-99.1
(logo) KPMG

KPMG LLP
Suite 2300
Three Wachovia Center
401 South Tryon Street
Charlotte, NC 28202-1911

Independent Accountants' Report

The Board of Directors
HomEq Servicing Corporation

We have examined management's assertion, included in the accompanying
Management's Assertion, that HomEq Servicing Corporation (the Company) complied
with the minimum servicing standards set forth in the Mortgage Bankers
Association of America's Uniform Single Attestation Program for Mortgage
Bankers, as of and for the year ended December 31, 2005. Management is
responsible for the Company's compliance with those minimum servicing standards.
Our responsibility is to express an opinion on management's assertion about the
Company's compliance based on our examination.

Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about the Company's
compliance with the minimum servicing standards specified above and performing
such other procedures as we considered necessary in the circumstances. We
believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on the Company's compliance
with the minimum servicing standards.

In our opinion, management's assertion that the Company complied with the
aforementioned minimum servicing standards as of and for the year ended
December 31, 2005 is fairly stated, in all material respects.

/s/ KPMG LLP

February 24, 2006

KPMG LLP, a U.S. limited liability partnership, is the U.S.
member firm of KPMG International, a Swiss cooperative.

EX-99.2
(logo) HOMEQ SERVICING

MANAGEMENT'S ASSERTION

As of and for the year ended December 31, 2005, HomEq Servicing Corporation
(the "Company") complied in all material respects with the minimum servicing
standards set forth in the Mortgage Bankers Association of America's Uniform
Single Attestation Program for Mortgage Bankers. As of and for this same period,
the Company had in effect a fidelity bond and errors and omissions policy both
in the amount of $20 million.

HomEq Servicing Corporation

/s/ Arthur Q. Lyon
Arthur Q. Lyon
President

February 24, 2006
Date

/s/ Keith G. Becher
Keith G. Becher
Chief Operating Officer

February 24, 2006
Date

(logo) WACHOVIA

EX-99.3
ABFC 2005-WMC1 TRUST,
ASSET-BACKED CERTIFICATES, SERIES 2005-WMC1

OFFICER'S CERTIFICATE PURSUANT TO
SECTION 3.19 OF THE AGREEMENT

I, Arthur Q. Lyon, President of HomEq Servicing Corporation, as servicer (the
"Servicer"), hereby certify pursuant to Section 3.19 of the Pooling and
Servicing Agreement, dated as of September 1, 2005 (the "Agreement"), among
Asset Backed Funding Corporation, HomEq Servicing Corporation and Wells Fargo
Bank, N.A. (the "Agreement") that:

(a) a review of the activities of the Servicer during calendar year 2005 and of
the performance of the Servicer under the Agreement has been made under my
supervision, and

(b) to the best of my knowledge, based on such review, the Servicer has
materially fulfilled all its obligations under the Agreement throughout
calendar year 2005.

Dated: March 28, 2006

HomEq Servicing Corporation, as Servicer

By:/s/ Arthur Q. Lyon
Arthur Q. Lyon
President

Ex-99.4

Schedule of Year-To-Date Principal and Interest Distributions to
Certificateholders

Class Interest Principal Losses Ending Balance
<s> <c> <c> <c> <c>
A-1 2,409,057.78 20,986,167.63 0.00 214,913,832.48
A-2A 2,022,638.64 46,331,142.43 0.00 169,899,857.55
A-2B 890,562.90 0.00 0.00 86,365,000.00
A-2C 1,494,485.11 0.00 0.00 141,576,000.00
A-2D 493,241.23 0.00 0.00 45,876,000.00
A-2MZ 560,271.10 5,147,901.20 0.00 49,301,728.92
B-1 168,985.40 0.00 0.00 10,573,000.00
B-2 48,283.82 0.00 0.00 3,021,000.00
CE 4,977,576.48 0.00 0.00 5,034,827.14
M-1 407,858.84 0.00 0.00 37,257,000.00
M-10 222,942.70 0.00 0.00 15,104,000.00
M-11 103,952.31 0.00 0.00 6,042,000.00
M-12 144,851.47 0.00 0.00 9,063,000.00
M-2 370,116.57 0.00 0.00 33,734,000.00
M-3 256,367.21 0.00 0.00 23,160,000.00
M-4 182,277.28 0.00 0.00 16,111,000.00
M-5 189,604.04 0.00 0.00 16,615,000.00
M-6 162,604.08 0.00 0.00 14,098,000.00
M-7 190,452.32 0.00 0.00 15,104,000.00
M-8 151,112.00 0.00 0.00 11,580,000.00
M-9 142,484.42 0.00 0.00 10,070,000.00
P 872,416.04 0.00 0.00 100.00
R 0.00 0.00 0.00 0.00
R-X 0.00 0.00 0.00 0.00