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

FORM 10-K/A
Amendment No. 2

(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, 2006

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

Commission file number: 333-130961-02

Fremont Home Loan Trust 2006-2
(exact name of issuing entity as specified in its charter)

Financial Asset Securities Corp. (depositor)
(exact name of the registrant as specified in its charter)

Greenwich Capital Financial Products, Inc.
(exact name of the sponsor as specified in its charter)

Delaware 06-1442101
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

600 Steamboat Road
Greenwich, CT 06830
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (203) 625-2700

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.

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.

Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Section 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court.

Not applicable.

Indicate the number of shares outstanding of each of the registrant's classes
of common stock, as of December 31, 2006.

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.

PART I
Item 1. Business.

Omitted.

Item 1A. Risk Factors.

Omitted.

Item 1B. Unresolved Staff Comments.

Omitted.

Item 2. Properties.

Omitted.

Item 3. Legal Proceedings.

Omitted.

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

Omitted.

PART II

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

Omitted.

Item 6. Selected Financial Data.

Omitted.

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

Omitted.

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

Omitted.

Item 8. Financial Statements and Supplementary Data.

Omitted.

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

Omitted.

Item 9A. Controls and Procedures.

Omitted.

Item 9A(T). Controls and Procedures.

Omitted.

Item 9B. Other Information.

None.

PART III

Item 10. Directors, Executive Officers and Corporate Governance.

Omitted.

Item 11. Executive Compensation.

Omitted.

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

Omitted.

Item 13. Certain Relationships and Related Transactions, and Director
Independence.

Omitted.

Item 14. Principal Accounting Fees and Services.

Omitted.

ADDITIONAL DISCLOSURE ITEMS PURSUANT TO GENERAL INSTRUCTION J

Item 1112(b) of Regulation AB, Significant Obligor Financial Information.

No single obligor represents more than 10% of the pool assets held
by this transaction.

Item 1114(b)(2) and 1115(b) of Regulation AB, Significant Enhancement
Provider Financial Information.

No entity or group of affiliated entities provides external
credit enhancement, uses any derivative instruments or other support
for the certificates within this transaction with a significance
percentage calculated in excess of 10%.

Item 1117 of Regulation AB, Legal Proceedings.

Recent Events Relating to Fremont Investment & Loan

Pursuant to a Form 12b-25 filed on March 2, 2007, Fremont General Corporation
("Fremont General"), the parent of Fremont Investment & Loan ("Fremont"),
announced that it was delaying the filing of its Annual Report on Form 10-K
for the fiscal year ended December 31, 2006. Pursuant to a Form 8-K filed on
March 16, 2007, Fremont General announced that it would not file its Annual
Report on Form 10-K for the fiscal year ended December 31, 2006 before its
extended deadline of April 17, 2007.

Fremont General also announced that, in light of the current operating
environment for subprime mortgage lenders and recent legislative and
regulatory events, Fremont intends to exit its subprime residential real
estate lending business. Fremont General is are engaged in discussions with
various parties regarding the sale or other disposition of the residential
loan origination platform and has engaged Credit Suisse Securities LLC in
connection therewith; however, there can be no assurance that Fremont General
or its affiliates will be able to enter into any transaction involving its
residential loan origination platform.

Additionally, on March 7, 2006, Fremont General announced that it, Fremont and
Fremont General's wholly owned subsidiary, Fremont General Credit Corporation,
have consented to the terms of a cease and desist order issued by the Federal
Deposit Insurance Corporation without admitting to the allegations contained
therein. The cease and desist order requires, among other things, Fremont to
cease and desist from the following:

* Operating with management whose policies and practices are
detrimental to Fremont;

* Operating Fremont without effective risk management policies and
procedures in place in relation to Fremont's brokered subprime
mortgage lending and commercial real estate construction lending
businesses;

* Operating with inadequate underwriting criteria and excessive risk in
relation to the kind and quality of assets held by Fremont;

* Operating without an accurate, rigorous and properly documented
methodology concerning its allowance for loan and lease losses;

* Operating with a large volume of poor quality loans;

* Engaging in unsatisfactory lending practices;

* Operating without an adequate strategic plan in relation to the
volatility of Fremont's business lines and the kind and quality of
assets held by Fremont;

* Operating with inadequate capital in relation to the kind and quality
of assets held by Fremont;

* Operating in such a manner as to produce low and unsustainable earnings;

* Operating with inadequate provisions for liquidity in relation to the
volatility of Fremont's business lines and the kind and quality of
assets held by Fremont;

* Marketing and extending adjustable-rate mortgage products to subprime
borrowers in an unsafe and unsound manner that greatly increases the
risk that borrowers will default on the loans or otherwise cause losses
to Fremont, including (1) adjustable-rate mortgage products that
qualify borrowers for loans with low initial payments based on an
introductory rate that will expire after an initial period, without
adequate analysis of the borrower's ability to repay at the fully
indexed rate, (2) adjustable-rate mortgage products containing features
likely to require frequent refinancing to maintain affordable monthly
payment or to avoid foreclosure, and (3) loans or loan arrangements
with loan-to-value ratios approaching or exceeding 100 percent of the
value of the collateral;

* Making mortgage loans without adequately considering the borrower's
ability to repay the mortgage according to its terms;

* Operating in violation of Section 23B of the Federal Reserve Act, in
that Fremont engaged in transactions with its affiliates on terms and
under circumstances that in good faith would not be offered to, or
would not apply to, nonaffiliated companies; and

* Operating inconsistently with the Federal Deposit Insurance
Corporation's Interagency Advisory on Mortgage Banking and Interagency
Expanded Guidance for Subprime Lending Programs.

The cease and desist order also requires Fremont to take a number of steps,
including (1) having and retaining qualified management; (2) limiting Fremont
General's and Fremont General Credit Corporation's representation on Fremont's
board of directors and requiring that independent directors comprise a
majority of Fremont's board of directors; (3) revising and implementing
written lending policies to provide effective guidance and control over
Fremont's residential lending function; (4) revising and implementing policies
governing communications with consumers to ensure that borrowers are provided
with sufficient information; (5) implementing control systems to monitor
whether Fremont's actual practices are consistent with its policies and
procedures; (6) implementing a third-party mortgage broker monitoring program
and plan; (7) developing a five-year strategic plan, including policies and
procedures for diversifying Fremont's loan portfolio; (8) implementing a
policy covering Fremont's capital analysis on subprime residential loans; (9)
performing quarterly valuations and cash flow analyses on Fremont's residual
interests and mortgage servicing rights from its residential lending
operation, and obtaining annual independent valuations of such interests and
rights; (10) limiting extensions of credit to certain commercial real estate
borrowers; (11) implementing a written lending and collection policy to
provide effective guidance and control over Fremont's commercial real estate
lending function, including a planned material reduction in the volume of
funded and unfunded nonrecourse lending and loans for condominium conversion
and construction as a percentage of Tier I capital; (12) submitting a capital
plan that will include a Tier I capital ratio of not less than 14% of
Fremont's total assets; (13) implementing a written profit plan; (14) limiting
the payment of cash dividends by Fremont without the prior written consent of
the Federal Deposit Insurance Corporation and the Commissioner of the
California Department of Financial Institutions; (15) implementing a written
liquidity and funds management policy to provide effective guidance and
control over Fremont's liquidity position and needs; (16) prohibiting the
receipt, renewal or rollover of brokered deposit accounts without obtaining a
Brokered Deposit Waiver approved by the Federal Deposit Insurance Corporation;
(17) reducing adversely classified assets; and (18) implementing a
comprehensive plan for the methodology for determining the adequacy of the
allowance for loan and lease losses.

Further, Fremont General is analyzing, in connection with the preparation of
Fremont General's consolidated financial statements as of and for the period
ended December 31, 2006, the Federal Deposit Insurance Corporation's criticism
with respect to Fremont General's methodology for determining the carrying
value of Fremont General's residential real estate loans held for sale.

In addition, on March 5, 2007, Moody's Investors Service, Inc. downgraded
Fremont's residential primary servicer rating for subprime mortgage loans to
"SQ4+" from "SQ3+" and placed such rating on review for possible further
downgrade and on March 6, 2007, Fitch Ratings, Inc. downgraded Fremont's
residential primary servicer rating for subprime mortgage loans to "RPS4" from
"RPS3+" and placed such rating on "Watch Negative", indicating that further
downgrades of such rating are possible.

Pursuant to a Form 12b-25 filed on May 11, 2007, Fremont General Corporation
("Fremont General"), the parent of Fremont Investment & Loan ("Fremont"),
announced that it was delaying the filing of its Quarterly Report on Form 10-Q
for the fiscal quarter ended March 31, 2007.

Item 1119 of Regulation AB, Affiliations and Certain Relationships and
Related Transactions.

None.

Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria.

Reports on assessment of compliance with servicing criteria for
asset-backed securities are attached hereto under Item 15.

The 1122 statements for Wells Fargo Bank, National Association (Corporate
Trust Services) has disclosed the following instance of material
noncompliance with criterion 1122(d)(3)(i) Delinquency Reporting - During
the reporting period, certain monthly investor or remittance reports
included errors in the calculation and/or the reporting of delinquencies for
the pool assets, which errors may or may not have been material. All such
errors were the result of data processing errors and/or the mistaken
interpretation of data provided by other parties participating in the
servicing function. All necessary adjustments to data processing systems
and/or interpretive clarifications have been made to correct those errors
and to remedy related procedures.

On April 2, 2007, the Registrant filed a Form 10-K with the Securities and
Exchange Commission that omitted the Attestation Report required by
Regulation AB of Fremont Investment & Loan, the servicer of the mortgage
loans under the pooling and servicing agreement. Fremont Investment & Loan
has provided the Registrant with the Attestation Report and such report has
been included in this Form 10-K/A as Exhibit 34(b).

Item 1123 of Regulation AB, Servicer Compliance Statement.

Servicer compliance statements are attached hereto under Item 15.

PART IV

Item 15. Exhibits, Financial Statement Schedules.

(a) Exhibits

(4) Pooling and Servicing Agreement, dated as of April 1, 2006, among
Financial Asset Securities Corp., Deutsche Bank National Trust Company,
Wells Fargo Bank, N.A. and Fremont Investment & Loan (incorporated
herein by reference from Exhibit 4.1 of the Current Report on Form 8-K
of the registrant, as filed with the Commission on May 16, 2006 and as
amended on July 25, 2006).

(10) Incorporated by reference as Exhibit (4).

(31) Rule 13a-14(d)/15d-14(d) Certifications.

(33) Reports on assessment of compliance with servicing criteria for
asset-backed securities.

<s> <c>
a) Deutsche Bank National Trust Company, as Custodian <F1>
b) Fremont Investment & Loan, as Servicer <F1>
c) LandAmerica Tax and Flood Services as Sub-Contractor for Fremont Investment & Loan <F1>
d) Wells Fargo Bank, N.A., as Master Servicer <F1>
e) Wells Fargo Bank, N.A., as Trust Administrator <F1>

(34) Attestation reports on assessment of compliance with servicing
criteria for asset-backed securities.

(35) Servicer compliance statement.

<s> <c>
a) Fremont Investment & Loan, as Servicer <F1>
b) Wells Fargo Bank, N.A., as Master Servicer <F1>
c) Wells Fargo Bank, N.A., as Trust Administrator <F1>

(b) Not applicable.

<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.

Fremont Home Loan Trust 2006-2
(Issuing Entity)

Financial Asset Securities Corp.
(Depositor)

/s/ John Anderson
John Anderson
Senior Officer in Charge of Securitization of the Depositor

Date: November 27, 2007

Exhibit Index

Exhibit No.

(10) Incorporated by reference as Exhibit (4).

(31) Rule 13a-14(d)/15d-14(d) Certifications.

(33) Reports on assessment of compliance with servicing criteria for
asset-backed securities.

<s> <c>
a) Deutsche Bank National Trust Company, as Custodian
b) Fremont Investment & Loan, as Servicer
c) LandAmerica Tax and Flood Services as Sub-Contractor for Fremont Investment & Loan
d) Wells Fargo Bank, N.A., as Master Servicer
e) Wells Fargo Bank, N.A., as Trust Administrator

(34) Attestation reports on assessment of compliance with servicing
criteria for asset-backed securities.

(35) Servicer compliance statement.

<s> <c>
a) Fremont Investment & Loan, as Servicer
b) Wells Fargo Bank, N.A., as Master Servicer
c) Wells Fargo Bank, N.A., as Trust Administrator