FFMLT Trust 2006-FF3

Multifamily Mortgage Pass-Through Certificates

June 26, 2006 Distribution

External Parties

Table of Contents

Page

Seller

Goldman Sachs Mortgage Securities

1. Certificate Payment Report

2. Collection Account Report

Servicer(s)

3. Credit Enhancement Report

National City Home Loan

4. Collateral Report

5. Delinquency Report

Underwriter(s)

6. REO Report

Goldman, Sachs & Co.

7. Foreclosure Report

8. Prepayment Report

Swap Counterparty

9. Prepayment Detail Report

Goldman Sachs Cap. Mkts L.P.

10. Realized Loss Report

11. Realized Loss Detail Report

12. Triggers and Adj. Cert. Report

13. Additional Certificate Report

14. Other Related Information

Total Number of Pages

Dates

Contacts

Cut-Off Date:

February 01, 2006

Jason Grewal

Close Date:

February 23, 2006

Administrator

First Distribution Date:

March 27, 2006

(714) 247-6264

Jason.Grewal@db.com

Address:

Distribution Date:

June 26, 2006

1761 E. St. Andrew Place, Santa Ana, CA 92705

Record Date:

May 31, 2006

Factor Information:

(800) 735-7777

June 23, 2006

Main Phone Number:

(714) 247-6000

Determination Date:

June 18, 2006

https://www.tss.db.com/invr

Page 1 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Certificate Payment Report
Current Period Distribution - REMIC IV
				Prior						Current
	Class		Original	Principal			Total	Realized	Deferred	Principal
	Class		Original	Principal			Total	Realized	Deferred	Principal
Class	Type	Cur	Face Value	Balance	Interest	Principal	Distribution	Loss	Interest	Balance

			(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
			(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	FLT/STEP/AF	$	241,651,000.00	235,115,677.22	1,105,827.40	7,209,577.79	8,315,405.19	0.00	0.00	227,906,099.43
A-1	FLT/STEP/AF	$	241,651,000.00	235,115,677.22	1,105,827.40	7,209,577.79	8,315,405.19	0.00	0.00	227,906,099.43
A-2A	FLT/STEP/AF	$	280,279,000.00	255,970,576.40	1,174,336.12	21,054,281.28	22,228,617.40	0.00	0.00	234,916,295.12
A-2B	FLT/STEP/AF	$	245,124,000.00	245,124,000.00	1,150,721.00	0.00	1,150,721.00	0.00	0.00	245,124,000.00
A-2C	FLT/STEP/AF	$	31,616,000.00	31,616,000.00	150,948.84	0.00	150,948.84	0.00	0.00	31,616,000.00
M-1	FLT/STEP/AF	$	33,712,000.00	33,712,000.00	163,653.03	0.00	163,653.03	0.00	0.00	33,712,000.00
M-2	FLT/STEP/AF	$	30,737,000.00	30,737,000.00	149,484.28	0.00	149,484.28	0.00	0.00	30,737,000.00
M-3	FLT/STEP/AF	$	17,847,000.00	17,847,000.00	87,113.19	0.00	87,113.19	0.00	0.00	17,847,000.00
M-4	FLT/STEP/AF	$	16,361,000.00	16,361,000.00	81,750.46	0.00	81,750.46	0.00	0.00	16,361,000.00
M-5	FLT/STEP/AF	$	14,872,000.00	14,872,000.00	74,707.01	0.00	74,707.01	0.00	0.00	14,872,000.00
M-6	FLT/STEP/AF	$	14,377,000.00	14,377,000.00	73,242.83	0.00	73,242.83	0.00	0.00	14,377,000.00
M-7	FLT/STEP/AF	$	12,890,000.00	12,890,000.00	71,969.17	0.00	71,969.17	0.00	0.00	12,890,000.00
M-8	FLT/STEP/AF	$	10,411,000.00	10,411,000.00	59,516.22	0.00	59,516.22	0.00	0.00	10,411,000.00
M-9	FLT/STEP/AF	$	7,932,000.00	7,932,000.00	48,869.94	0.00	48,869.94	0.00	0.00	7,932,000.00
B-1	FLT/STEP/AF	$	6,941,000.00	6,941,000.00	45,232.18	0.00	45,232.18	0.00	0.00	6,941,000.00
B-2	FLT/STEP/AF	$	9,915,000.00	9,915,000.00	64,612.75	0.00	64,612.75	0.00	0.00	9,915,000.00
X	FLT/STEP/AF	$	16,856,355.76	16,855,868.15	1,371,302.97	0.00	1,371,302.97	0.00	0.00	16,855,868.15
P	EXE	$	100.00	100.00	170,555.92	0.00	170,555.92	0.00	0.00	100.00
R	EXE	$	50.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RC	EXE	$	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RX	EXE	$	50.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00


Total		991,521,655.76	960,677,221.77	6,043,843.31	28,263,859.07	34,307,702.38	0.00	0.00	932,413,362.70
Total





Page 2 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution


Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
					Orig. Principal	Prior				Current
					Orig. Principal	Prior				Current
	Period	Period			(with Notional)	Principal			Total	Principal
Class	Starting	Ending	Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
			Method
					(1)	(1)	(2)	(3)	(4)=(2)+(3)	(5)

A-1	05/25/06	06/25/06	A-Act/360	362334AS3	241,651,000.00	972.955532	4.576134	29.834670	34.410804	943.120862
A-1	05/25/06	06/25/06	A-Act/360	362334AS3	241,651,000.00	972.955532	4.576134	29.834670	34.410804	943.120862
A-2A	05/25/06	06/25/06	A-Act/360	362334AT1	280,279,000.00	913.270621	4.189883	75.119011	79.308894	838.151610
A-2B	05/25/06	06/25/06	A-Act/360	362334AU8	245,124,000.00	1,000.000000	4.694444	0.000000	4.694444	1,000.000000
A-2C	05/25/06	06/25/06	A-Act/360	362334AV6	31,616,000.00	1,000.000000	4.774445	0.000000	4.774445	1,000.000000
M-1	05/25/06	06/25/06	A-Act/360	362334AW4	33,712,000.00	1,000.000000	4.854444	0.000000	4.854444	1,000.000000
M-2	05/25/06	06/25/06	A-Act/360	362334AX2	30,737,000.00	1,000.000000	4.863333	0.000000	4.863333	1,000.000000
M-3	05/25/06	06/25/06	A-Act/360	362334AY0	17,847,000.00	1,000.000000	4.881111	0.000000	4.881111	1,000.000000
M-4	05/25/06	06/25/06	A-Act/360	362334AZ7	16,361,000.00	1,000.000000	4.996666	0.000000	4.996666	1,000.000000
M-5	05/25/06	06/25/06	A-Act/360	362334BA1	14,872,000.00	1,000.000000	5.023333	0.000000	5.023333	1,000.000000
M-6	05/25/06	06/25/06	A-Act/360	362334BB9	14,377,000.00	1,000.000000	5.094445	0.000000	5.094445	1,000.000000
M-7	05/25/06	06/25/06	A-Act/360	362334BC7	12,890,000.00	1,000.000000	5.583334	0.000000	5.583334	1,000.000000
M-8	05/25/06	06/25/06	A-Act/360	362334BD5	10,411,000.00	1,000.000000	5.716667	0.000000	5.716667	1,000.000000
M-9	05/25/06	06/25/06	A-Act/360	362334BH6	7,932,000.00	1,000.000000	6.161112	0.000000	6.161112	1,000.000000
B-1	05/25/06	06/25/06	A-Act/360	362334BJ2	6,941,000.00	1,000.000000	6.516666	0.000000	6.516666	1,000.000000
B-2	05/25/06	06/25/06	A-Act/360	362334BK9	9,915,000.00	1,000.000000	6.516667	0.000000	6.516667	1,000.000000
X	05/01/06	05/30/06	F-30/360	362334BL7	16,856,355.76	999.971073	81.352280	0.000000	81.352280	999.971073
P	05/01/06	05/30/06	F-30/360	362334BM5	100.00	1,000.000000	1,705,559.200000	0.000000	1,705,559.200000	1,000.000000
R	05/01/06	05/30/06	A-30/360	362334BE3	50.00	0.000000	0.000000	0.000000	0.000000	0.000000
RC	05/01/06	05/30/06	A-30/360	362334BF0	100.00	0.000000	0.000000	0.000000	0.000000	0.000000
RX	05/01/06	05/30/06	A-30/360	362334BG8	50.00	0.000000	0.000000	0.000000	0.000000	0.000000




Page 3 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution


Distribution to Date - REMIC IV
									Current


	Original		Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal

Class	Face Value	Interest	Principal	Principal	Principal	Distribution	Loss	Interest	Balance
(1)	(2)	(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	241,651,000.00	4,125,943.19	13,467,545.77	277,354.80	13,744,900.57	17,870,843.76	0.00	0.00	227,906,099.43
A-2A	280,279,000.00	4,530,045.73	44,420,447.90	942,256.98	45,362,704.88	49,892,750.61	0.00	0.00	234,916,295.12
A-2B	245,124,000.00	4,234,744.78	0.00	0.00	0.00	4,234,744.78	0.00	0.00	245,124,000.00
A-2C	31,616,000.00	555,917.48	0.00	0.00	0.00	555,917.48	0.00	0.00	31,616,000.00
M-1	33,712,000.00	603,138.53	0.00	0.00	0.00	603,138.53	0.00	0.00	33,712,000.00
M-2	30,737,000.00	550,963.22	0.00	0.00	0.00	550,963.22	0.00	0.00	30,737,000.00
M-3	17,847,000.00	321,128.44	0.00	0.00	0.00	321,128.44	0.00	0.00	17,847,000.00
M-4	16,361,000.00	301,657.07	0.00	0.00	0.00	301,657.07	0.00	0.00	16,361,000.00
M-5	14,872,000.00	275,727.88	0.00	0.00	0.00	275,727.88	0.00	0.00	14,872,000.00
M-6	14,377,000.00	270,480.18	0.00	0.00	0.00	270,480.18	0.00	0.00	14,377,000.00
M-7	12,890,000.00	266,726.59	0.00	0.00	0.00	266,726.59	0.00	0.00	12,890,000.00
M-8	10,411,000.00	220,765.35	0.00	0.00	0.00	220,765.35	0.00	0.00	10,411,000.00
M-9	7,932,000.00	181,748.33	0.00	0.00	0.00	181,748.33	0.00	0.00	7,932,000.00
B-1	6,941,000.00	168,527.14	0.00	0.00	0.00	168,527.14	0.00	0.00	6,941,000.00
B-2	9,915,000.00	240,735.72	0.00	0.00	0.00	240,735.72	0.00	0.00	9,915,000.00
X	16,856,355.76	5,424,580.11	466.58	21.03	487.61	5,425,067.72	0.00	0.00	16,855,868.15
P	100.00	410,886.49	0.00	0.00	0.00	410,886.49	0.00	0.00	100.00
R	50.00	0.00	47.84	2.16	50.00	50.00	0.00	0.00	0.00
RC	100.00	0.00	95.69	4.31	100.00	100.00	0.00	0.00	0.00
RX	50.00	0.00	47.84	2.16	50.00	50.00	0.00	0.00	0.00

Total	991,521,655.76	22,683,716.23	57,888,651.62	1,219,641.44	59,108,293.06	81,792,009.29	0.00	0.00	932,413,362.70


Interest Detail - REMIC IV
	Pass	Prior Principal		Non-	Prior	Unscheduled		Paid or	Current
	Pass	Prior Principal		Non-	Prior	Unscheduled		Paid or

	Through	(with Notional)	Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid

Class	Rate	Balance	Interest	Interest SF	Interest	Adjustment	Interest	Interest	Interest
			(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	5.29125%	235,115,677.22	1,105,827.40	0.00	0.00	0.00	1,105,827.40	1,105,827.40	0.00
A-2A	5.16125%	255,970,576.40	1,174,336.12	0.00	0.00	0.00	1,174,336.12	1,174,336.12	0.00
A-2B	5.28125%	245,124,000.00	1,150,721.00	0.00	0.00	0.00	1,150,721.00	1,150,721.00	0.00
A-2C	5.37125%	31,616,000.00	150,948.84	0.00	0.00	0.00	150,948.84	150,948.84	0.00
M-1	5.46125%	33,712,000.00	163,653.03	0.00	0.00	0.00	163,653.03	163,653.03	0.00
M-2	5.47125%	30,737,000.00	149,484.28	0.00	0.00	0.00	149,484.28	149,484.28	0.00
M-3	5.49125%	17,847,000.00	87,113.19	0.00	0.00	0.00	87,113.19	87,113.19	0.00
M-4	5.62125%	16,361,000.00	81,750.46	0.00	0.00	0.00	81,750.46	81,750.46	0.00
M-5	5.65125%	14,872,000.00	74,707.01	0.00	0.00	0.00	74,707.01	74,707.01	0.00
M-6	5.73125%	14,377,000.00	73,242.83	0.00	0.00	0.00	73,242.83	73,242.83	0.00
M-7	6.28125%	12,890,000.00	71,969.17	0.00	0.00	0.00	71,969.17	71,969.17	0.00
M-8	6.43125%	10,411,000.00	59,516.22	0.00	0.00	0.00	59,516.22	59,516.22	0.00
M-9	6.88883%	7,932,000.00	48,570.85	0.00	0.00	0.00	48,570.85	48,869.94	0.00
B-1	6.88883%	6,941,000.00	42,502.55	0.00	0.00	0.00	42,502.55	45,232.18	0.00
B-2	6.88883%	9,915,000.00	60,713.56	0.00	0.00	0.00	60,713.56	64,612.75	0.00
X	97.62556%	16,855,868.15	0.00	0.00	0.00	0.00	0.00	1,371,302.97	0.00
P	2,046,671.04000%	100.00	0.00	0.00	0.00	0.00	0.00	170,555.92	0.00
R	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RC	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RX	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00


Total		960,677,221.77	4,495,056.51	0.00	0.00	0.00	4,495,056.51	6,043,843.31	0.00



Page 4 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Collection Account Report
SUMMARY

	Group 2	Group 1	Total
Principal Collections	21,054,281.28	7,209,577.79	28,263,859.07
Principal Withdrawals	0.00	0.00	0.00
Principal Other Accounts	0.00	0.00	0.00
TOTAL NET PRINCIPAL	21,054,281.28	7,209,577.79	28,263,859.07
Interest Collections	3,883,851.90	1,697,951.06	5,581,802.96
Interest Withdrawals	-0.00	-0.00	-0.00
Interest Fees	-45,769.54	-21,081.25	-66,850.78
Interest Other Accounts	159,314.72	11,241.20	528,891.13
TOTAL NET INTEREST	3,997,397.08	1,688,111.01	6,043,843.30
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION	25,051,678.36	8,897,688.80	34,307,702.38




PRINCIPAL - COLLECTIONS

	Group 2	Group 1	Total
Scheduled Principal Received	161,695.18	138,494.24	300,189.42
Curtailments	22,665.54	19,507.81	42,173.35
Prepayments In Full	10,276,932.28	4,583,609.59	14,860,541.87
Repurchased/Substitutions	10,592,988.28	2,467,966.15	13,060,954.43
Liquidations	0.00	0.00	0.00
Insurance Principal	0.00	0.00	0.00
Other Additional Principal	0.00	0.00	0.00
Delinquent Principal	-139,467.41	-117,325.92	-256,793.33
Realized Losses	-0.00	-0.00	-0.00
Advanced Principal	139,467.41	117,325.92	256,793.33
TOTAL PRINCIPAL COLLECTED	21,054,281.28	7,209,577.79	28,263,859.07




PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK




PRINCIPAL - OTHER ACCOUNTS

	Group 2	Group 1	Total
TOTAL PRINCIPAL OTHER ACCOUNTS	0.00	0.00	0.00






Page 5 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution


INTEREST - COLLECTIONS

			Group 2	Group 1	Total
Scheduled Interest			4,051,178.64	1,784,476.89	5,835,655.53
Repurchased/Substitution Interest			67,521.52	15,819.94	83,341.46
Liquidation Interest			0.00	0.00	0.00
Insurance Interest			0.00	0.00	0.00
Other Additional Interest			0.00	0.00	0.00
Prepayment Interest Shortfalls			-29,851.27	-14,526.80	-44,378.07
Delinquent Interest			-3,479,707.44	-1,510,485.79	-4,990,193.23
Compensating Interest			29,851.27	14,526.80	44,378.07
Civil Relief Act Shortfalls			-0.00	-0.00	-0.00
Interest Realized Loss			0.00	0.00	0.00
Interest Advanced			3,244,859.17	1,408,140.01	4,652,999.18
TOTAL INTEREST COLLECTED			3,883,851.90	1,697,951.06	5,581,802.96




INTEREST - WITHDRAWALS

			Group 2	Group 1	Total
Non Recoverable Advances			0.00	0.00	0.00
Extraordinary Trust Fund Expenses			0.00	0.00	0.00
TOTAL INTEREST WITHDRAWALS			0.00	0.00	0.00




INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
		Group 2	Group 1	Total
	Prepayment Charges	159,314.72	11,241.20	170,555.92

	Net Swap Payment			358,335.21
	. a) Swap Payment	0.00	0.00	0.00
	. b) Counterparty Payment			4,132,291.11

	TOTAL INTEREST OTHER ACCOUNTS	159,314.72	11,241.20	528,891.13





INTEREST FEES
INTEREST FEES
		Group 2	Group 1	Total
	Current Servicing Fees	43,156.29	19,931.84	63,088.13
	Trustee Fees	2,613.24	1,149.41	3,762.65
	TOTAL INTEREST FEES	45,769.54	21,081.25	66,850.78



Page 6 of 28

FFMLT Trust 2006-FF3

Multifamily Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Credit Enhancement Report

ACCOUNTS

Reserve Fund

Begining Balance

0.00

Amount Deposited

6,927.91

Amount Withdrawn

6,927.91

Ending Balance

0.00

Supplemental Interest Account

Begining Balance

0.00

Amount Deposited

4,132,291.11

Amount Withdrawn

(3,773,955.90)

Net SWAP Amount

358,335.21

Ending Balance

0.00

INSURANCE

SPACE INTENTIONALLY LEFT BLANK

STRUCTURAL FEATURES

Group 2

Group 1

Total

Overcollateralized Amount - Prior Period

16,855,868.15

Current Period Principal Realized Losses

0.00

Overcollateralized Amount - After Current

16,855,868.15

Extra Principal Distribution Amount

0.00

Overcollateralization Reduction Amount

0.00

Overcollateralized Amount - Ending

16,855,868.15

Overcollateralization Deficiency Amount

0.00

Overcollateralization Excess Amount

0.00

Specified Overcollateralization Amount

16,855,868.15

Net Monthly Excess Cashflow

1,371,302.96

Net Monthly Excess Cashflow Alloc to Losses

0.00

Net Monthly Excess Cashflow Alloc to Unpaid

6,927.91

Page 7 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Collateral Report


COLLATERAL




		Group 2	Group 1	Total



Loan Count:


Original	2,644	1,910	4,554
Prior	2,571	1,873	4,444
Prefunding	0	0	0
Scheduled Paid Offs	-0	-0	-0
Full Voluntary Prepayments	-32	-27	-59
Repurchases	-32	-17	-49
Liquidations	-0	-0	-0
Current	2,507	1,829	4,336
Principal Balance:


Original	691,519,880.55	300,001,775.21	991,521,655.76
Prior	667,210,948.42	293,466,273.35	960,677,221.77
Prefunding	0.00	0.00	0.00
Scheduled Principal	-161,695.18	-138,494.24	-300,189.42
Partial Prepayments	-22,665.54	-19,507.81	-42,173.35
Full Voluntary Prepayments	-10,276,932.28	-4,583,609.59	-14,860,541.87
Repurchases	-10,592,988.28	-2,467,966.15	-13,060,954.43
Liquidations	-0.00	-0.00	-0.00
Current	646,156,667.14	286,256,695.56	932,413,362.70





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK

Page 8 of 28

FFMLT Trust 2006-FF3



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Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution


CHARACTERISTICS
CHARACTERISTICS

	Group 2	Group 1	Total
Weighted Average Coupon Original	7.42733%	7.36575%	7.40870%
Weighted Average Coupon Prior	7.41571%	7.36568%	7.40049%
Weighted Average Coupon Current	7.40761%	7.36151%	7.39353%
Weighted Average Months to Maturity Original	356	354	355
Weighted Average Months to Maturity Prior	354	352	353
Weighted Average Months to Maturity Current	352	351	352
Weighted Avg Remaining Amortization Term Original	357	355	356
Weighted Avg Remaining Amortization Term Prior	355	353	354
Weighted Avg Remaining Amortization Term Current	354	352	353
Weighted Average Seasoning Original	3.28	3.23	3.26
Weighted Average Seasoning Prior	5.28	5.23	5.26
Weighted Average Seasoning Current	6.28	6.22	6.26

Page 9 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution


ARM CHARACTERISTICS
ARM CHARACTERISTICS

		Group 2	Group 1	Total
Weighted Average Margin Original		5.40196%	5.55075%	5.44559%
Weighted Average Margin Prior		5.40088%	5.54988%	5.44476%
Weighted Average Margin Current		5.39736%	5.54739%	5.44167%
Weighted Average Max Rate Original		13.36553%	13.41404%	13.37976%
Weighted Average Max Rate Prior		13.35339%	13.41461%	13.37142%
Weighted Average Max Rate Current		13.34335%	13.40990%	13.36300%
Weighted Average Min Rate Original		7.36543%	7.41493%	7.37995%
Weighted Average Min Rate Prior		7.35330%	7.41550%	7.37162%
Weighted Average Min Rate Current		7.34325%	7.41081%	7.36320%
Weighted Average Cap Up Original		1.00000%	1.00000%	1.00000%
Weighted Average Cap Up Prior		1.00000%	1.00000%	1.00000%
Weighted Average Cap Up Current		1.00000%	1.00000%	1.00000%
Weighted Average Cap Down Original		1.00000%	1.00000%	1.00000%
Weighted Average Cap Down Prior		1.00000%	1.00000%	1.00000%
Weighted Average Cap Down Current		1.00000%	1.00000%	1.00000%




SERVICING FEES & ADVANCES
SERVICING FEES & ADVANCES

		Group 2	Group 1	Total




Current Servicing Fees		43,156.29	19,931.84	63,088.13
Delinquent Servicing Fees		234,848.27	102,345.77	337,194.04
TOTAL SERVICING FEES		278,004.56	122,277.62	400,282.18


Total Servicing Fees		278,004.56	122,277.62	400,282.18
Compensating Interest		-29,851.27	-14,526.80	-44,378.07
Delinquent Servicing Fees		-234,848.27	-102,345.77	-337,194.04
COLLECTED SERVICING FEES		13,305.02	5,405.04	18,710.06


Total Advanced Interest		3,244,859.17	1,408,140.01	4,652,999.18
Total Advanced Principal		139,467.41	117,325.92	256,793.33
Aggregate Advances with respect to this Distribution		3,384,326.58	1,525,465.93	4,909,792.51
Unrecovered Advances		0.00	0.00	0.00
Non Recoverable Advance		0.00	0.00	0.00
Servicer Escrow Advances		0.00	0.00	0.00





ADDITIONAL COLLATERAL INFORMATION
ADDITIONAL COLLATERAL INFORMATION
		Group 2	Group 1	Total
	Prepayment Interest Shortfall (PPIS)	29,851.27	14,526.80	44,378.07
	Compensating Interest	(29,851.27)	(14,526.80)	(44,378.07)
	Net Prepayment Interest Shortfall (PPIS)	0.00	0.00	0.00


	Ending Pool Stated Principal Balance	646,156,667.14	286,256,695.56	932,413,362.70





Page 10 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Delinquency Report


TOTAL	0-30 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181-210 Days	211-240 Days	240 +Days	TOTAL
	0-30 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181-210 Days	211-240 Days	240 +Days	TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
		12,100,242.83	5,491,649.73	0.00	0.00	0.00	0.00	0.00	0.00	17,591,892.56
		1.30%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.89%
		51	21	0	0	0	0	0	0	72
		1.18%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.66%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	1,224,484.49	0.00	0.00	0.00	0.00	0.00	1,224,484.49
	0.00%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.13%
	0	0	0	6	0	0	0	0	0	6
	0.00%	0.00%	0.00%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.14%
BANKRUPTCY Balance % Balance # Loans % # Loans
	319,946.35	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	319,946.35
	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%
	2	0	0	0	0	0	0	0	0	2
	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%
REO Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	319,946.35	12,100,242.83	5,491,649.73	1,224,484.49	0.00	0.00	0.00	0.00	0.00	19,136,323.40
	0.03%	1.30%	0.59%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	2.05%
	2	51	21	6	0	0	0	0	0	80
	0.05%	1.18%	0.48%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	1.85%

Page 11 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution



GROUP 1	0-30 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181-210 Days	211-240 Days	240 +Days	TOTAL
	0-30 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181-210 Days	211-240 Days	240 +Days	TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
		3,079,788.50	1,031,792.72	0.00	0.00	0.00	0.00	0.00	0.00	4,111,581.22
		1.08%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.44%
		19	8	0	0	0	0	0	0	27
		1.04%	0.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.48%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	215,617.25	0.00	0.00	0.00	0.00	0.00	215,617.25
	0.00%	0.00%	0.00%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%
	0	0	0	2	0	0	0	0	0	2
	0.00%	0.00%	0.00%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.11%
BANKRUPTCY Balance % Balance # Loans % # Loans
	201,682.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	201,682.54
	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%
	1	0	0	0	0	0	0	0	0	1
	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%
REO Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	201,682.54	3,079,788.50	1,031,792.72	215,617.25	0.00	0.00	0.00	0.00	0.00	4,528,881.01
	0.07%	1.08%	0.36%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	1.58%
	1	19	8	2	0	0	0	0	0	30
	0.05%	1.04%	0.44%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	1.64%

Page 12 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution



GROUP 2	0-30 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181-210 Days	211-240 Days	240 +Days	TOTAL
	0-30 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181-210 Days	211-240 Days	240 +Days	TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
		9,020,454.33	4,459,857.01	0.00	0.00	0.00	0.00	0.00	0.00	13,480,311.34
		1.40%	0.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.09%
		32	13	0	0	0	0	0	0	45
		1.28%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.79%
FORECLOSURE Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	1,008,867.24	0.00	0.00	0.00	0.00	0.00	1,008,867.24
	0.00%	0.00%	0.00%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%
	0	0	0	4	0	0	0	0	0	4
	0.00%	0.00%	0.00%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%
BANKRUPTCY Balance % Balance # Loans % # Loans
	118,263.81	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	118,263.81
	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%
	1	0	0	0	0	0	0	0	0	1
	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%
REO Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	0	0	0	0	0
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL Balance % Balance # Loans % # Loans
	118,263.81	9,020,454.33	4,459,857.01	1,008,867.24	0.00	0.00	0.00	0.00	0.00	14,607,442.39
	0.02%	1.40%	0.69%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	2.26%
	1	32	13	4	0	0	0	0	0	50
	0.04%	1.28%	0.52%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	1.99%

Page 13 of 28

FFMLT Trust 2006-FF3

Multifamily Mortgage Pass-Through Certificates

June 26, 2006 Distribution

REO Report

Loan Number

Original

Stated

Current

State &

First

Principal

Paid to

Note

LTV at

Original

Payment

Loan Group

Balance

Date

Rate

Origination

Term

Date

Page 14 of 28

FFMLT Trust 2006-FF3

Multifamily Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Foreclosure Report

Loan Number

Original

Stated

Current

State &

First

Principal

Paid to

Note

LTV at

Original

Payment

Loan Group

Balance

Date

Rate

Origination

Term

Date

Became Foreclosure Property this Period:

4000519065 2

53,600.00

53,342.23

01-Jan-2006

7.990%

IL - 80.00%

360

01-Dec-2005

4000549305 1

39,750.00

39,617.25

01-Jan-2006

9.000%

MO - 68.53%

360

01-Jan-2006

4000552633 1

176,000.00

01-Jan-2006

7.375%

MN - 80.00%

360

01-Jan-2006

4000555846 2

60,800.00

60,525.01

01-Jan-2006

7.500%

NC - 80.00%

360

01-Jan-2006

4000559631 2

336,000.00

01-Jan-2006

6.125%

NY - 80.00%

360

01-Jan-2006

4000564667 2

559,000.00

01-Jan-2006

8.250%

CA - 79.97%

360

01-Jan-2006

TOTAL

1,225,150.00

1,224,484.49

Page 15 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Prepayment Report

VOLUNTARY PREPAYMENTS



		Group 2	Group 1	Total


Current


Number of Paid in Full Loans	32	27	59
Number of Repurchased Loans	32	17	49
Total Number of Loans Prepaid in Full	64	44	108
Curtailments Amount	22,665.54	19,507.81	42,173.35
Paid in Full Balance	10,276,932.28	4,583,609.59	14,860,541.87
Repurchased Loans Balance	10,592,988.28	2,467,966.15	13,060,954.43
Total Prepayment Amount	20,892,586.10	7,071,083.55	27,963,669.65
Cumulative


Number of Paid in Full Loans	105	64	169
Number of Repurchased Loans	32	17	49
Total Number of Loans Prepaid in Full	137	81	218
Paid in Full Balance	33,964,151.75	10,653,824.67	44,617,976.42
Repurchased Loans Balance	10,592,988.28	2,467,966.15	13,060,954.43
Curtailments Amount	144,734.04	64,986.74	209,720.78
Total Prepayment Amount	44,701,874.07	13,186,777.56	57,888,651.63

Page 16 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution


VOLUNTARY PREPAYMENTS RATES



		Group 2	Group 1	Total





SMM	3.13%	2.41%	2.91%
3 Months Avg SMM	1.96%	1.30%	1.76%
12 Months Avg SMM	1.66%	1.12%	1.49%
Avg SMM Since Cut-off	1.66%	1.12%	1.49%



CPR	31.74%	25.38%	29.85%
3 Months Avg CPR	21.17%	14.54%	19.20%
12 Months Avg CPR	18.18%	12.63%	16.53%
Avg CPR Since Cut-off	18.18%	12.63%	16.53%



PSA	2,526.03%	2,040.51%	2,383.17%
3 Months Avg PSA Approximation	2,004.66%	1,390.96%	1,824.25%
12 Months Avg PSA Approximation	1,902.11%	1,336.35%	1,735.04%
Avg PSA Since Cut-off Approximation	1,902.11%	1,336.35%	1,735.04%

Page 17 of 28

FFMLT Trust 2006-FF3

Multifamily Mortgage Pass-Through Certificates

June 26, 2006 Distribution

PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidation Balance)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)

PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))

Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)*(1-SMMn+1)*...*(1-SMMm)]^(1/months in period n,m)

Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)

Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))

Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m)

Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.

Dates correspond to distribution dates.

Page 18 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Prepayment Detail Report

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution


Loan Number	Original			Current	State &	Type Prepayment	First
Loan Number	Original			Current	State &	Type Prepayment	First
&	Loan	Principal	Prepayment		Prepayment	Note	LTV at	&	Payment
Loan Group	Status	Balance	Amount		Date	Rate	Origination	Original Term	Date

4000503597 2		525,400.00	522,753.53	25-May-2006	5.990%	CA - 79.99%	Paid Off - 360	01-Jan-2006
4000503597 2		525,400.00	522,753.53	25-May-2006	5.990%	CA - 79.99%	Paid Off - 360	01-Jan-2006
4000506386 1		31,450.00	31,176.38	08-May-2006	8.500%	NY - 85.00%	Paid Off - 360	01-Jan-2006
4000521645 1		577,500.00	577,500.00	17-May-2006	7.250%	CA - 75.00%	Paid Off - 360	01-Nov-2005
4000523538 2		164,000.00	164,000.00	31-May-2006	7.750%	OK - 80.00%	Paid Off - 360	01-Jan-2006
4000525511 2		752,000.00	752,000.00	30-May-2006	7.000%	CA - 80.00%	Paid Off - 360	01-Dec-2005
4000529835 1		120,500.00	120,500.00	22-May-2006	6.875%	UT - 80.00%	Paid Off - 360	01-Jan-2006
4000535567 2		300,000.00	299,988.22	05-May-2006	7.375%	NJ - 80.00%	Paid Off - 360	01-Jan-2006
4000536960 2		389,900.00	389,900.00	03-May-2006	7.375%	MA - 79.59%	Paid Off - 360	01-Jan-2006
4000538039 1		416,000.00	414,397.70	30-May-2006	7.375%	OR - 80.00%	Paid Off - 360	01-Jan-2006
4000539773 2		46,400.00	46,223.93	01-May-2006	8.375%	OH - 80.00%	Paid Off - 360	01-Dec-2005
4000542793 2		450,000.00	448,466.98	08-May-2006	7.990%	NY - 90.00%	Paid Off - 360	01-Jan-2006
4000543879 2		498,500.00	498,500.00	02-May-2006	7.875%	NY - 85.95%	Paid Off - 360	01-Jan-2006
4000545188 1		72,000.00	72,000.00	17-May-2006	6.250%	UT - 80.00%	Paid Off - 360	01-Dec-2005
4000545657 2		360,000.00	360,000.00	23-May-2006	8.625%	CA - 90.00%	Paid Off - 360	01-Dec-2005
4000545878 1		144,000.00	143,546.22	17-May-2006	8.375%	GA - 90.00%	Paid Off - 360	01-Jan-2006
4000547032 2		675,000.00	675,000.00	26-May-2006	7.500%	CA - 90.00%	Paid Off - 360	01-Jan-2006
4000547838 2		328,750.00	328,750.00	12-May-2006	7.500%	CA - 79.99%	Paid Off - 360	01-Jan-2006
4000549555 1		255,000.00	253,916.50	01-May-2006	6.875%	IL - 75.00%	Paid Off - 360	01-Jan-2006
4000549656 2		306,000.00	304,933.16	22-May-2006	7.875%	NJ - 85.00%	Paid Off - 360	01-Jan-2006
4000550759 1		90,000.00	89,612.67	31-May-2006	7.750%	NV - 39.13%	Paid Off - 360	01-Dec-2005
4000551443 2		223,000.00	222,314.87	25-May-2006	8.500%	IL - 84.15%	Paid Off - 360	01-Jan-2006
4000552260 2		559,200.00	559,200.00	17-May-2006	8.125%	CA - 80.00%	Paid Off - 360	01-Jan-2006
4000553037 1		168,000.00	168,000.00	15-May-2006	7.750%	OR - 80.00%	Paid Off - 360	01-Jan-2006
4000553158 2		35,000.00	35,000.00	02-May-2006	8.000%	TN - 46.67%	Paid Off - 360	01-Jan-2006
4000553360 2		443,000.00	442,998.04	05-May-2006	7.125%	CA - 82.50%	Paid Off - 360	01-Jan-2006
4000555505 2		250,800.00	250,009.63	04-May-2006	8.375%	WI - 95.00%	Paid Off - 360	01-Jan-2006
4000556617 1		101,200.00	100,796.01	30-May-2006	8.125%	FL - 94.99%	Paid Off - 360	01-Dec-2005
4000556626 1		127,800.00	127,307.77	12-May-2006	7.375%	FL - 90.00%	Paid Off - 360	01-Jan-2006
4000557028 1		82,450.00	82,176.65	22-May-2006	8.125%	IL - 85.00%	Paid Off - 360	01-Jan-2006
4000557564 1		100,000.00	99,614.82	05-May-2006	7.375%	TX - 80.00%	Paid Off - 360	01-Jan-2006
4000557796 2		538,000.00	538,000.00	22-May-2006	8.625%	NJ - 88.20%	Paid Off - 360	01-Jan-2006
4000557897 1		179,200.00	179,200.00	19-May-2006	7.250%	AZ - 80.00%	Paid Off - 360	01-Jan-2006
4000558756 1		266,900.00	266,178.92	23-May-2006	9.125%	CA - 85.00%	Paid Off - 360	01-Jan-2006
4000560314 1		170,000.00	169,464.27	15-May-2006	8.375%	IN - 91.89%	Paid Off - 360	01-Jan-2006
4000561427 2		346,500.00	345,379.95	15-May-2006	8.250%	IL - 90.00%	Paid Off - 360	01-Jan-2006
4000562010 1		148,000.00	147,521.62	15-May-2006	8.250%	TX - 80.00%	Paid Off - 360	01-Jan-2006
4000562391 2		524,000.00	524,000.00	22-May-2006	6.500%	CA - 80.00%	Paid Off - 360	01-Jan-2006
4000562475 2		209,000.00	208,403.15	25-May-2006	8.875%	IL - 93.72%	Paid Off - 360	01-Jan-2006
4000562546 1		64,500.00	64,260.44	25-May-2006	7.875%	MO - 63.86%	Paid Off - 360	01-Jan-2006
4000562965 2		410,000.00	408,948.48	01-May-2006	9.375%	IL - 89.72%	Paid Off - 360	01-Jan-2006


Page 19 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution


Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution


Loan Number	Original			Current	State &	Type Prepayment	First
Loan Number	Original			Current	State &	Type Prepayment	First
&	Loan	Principal	Prepayment		Prepayment	Note	LTV at	&	Payment
Loan Group	Status	Balance	Amount		Date	Rate	Origination	Original Term	Date

4000563576 1		167,300.00	167,300.00	02-May-2006	9.500%	FL - 89.99%	Paid Off - 360	01-Jan-2006
4000563576 1		167,300.00	167,300.00	02-May-2006	9.500%	FL - 89.99%	Paid Off - 360	01-Jan-2006
4000564382 1		111,090.00	110,712.29	04-May-2006	8.000%	OK - 69.00%	Paid Off - 360	01-Jan-2006
4000564931 2		210,000.00	210,000.00	22-May-2006	7.625%	CA - 70.00%	Paid Off - 360	01-Jan-2006
4000566153 2		216,750.00	216,049.38	12-May-2006	8.250%	IL - 83.37%	Paid Off - 360	01-Jan-2006
4000566226 1		95,000.00	94,708.13	18-May-2006	8.500%	IL - 59.75%	Paid Off - 360	01-Jan-2006
4000566658 2		172,000.00	171,269.17	30-May-2006	6.875%	FL - 80.00%	Paid Off - 360	01-Jan-2006
4000567041 1		255,000.00	255,000.00	09-May-2006	7.875%	CA - 83.61%	Paid Off - 360	01-Jan-2006
4000567511 2		170,000.00	169,361.04	10-May-2006	7.500%	IL - 82.93%	Paid Off - 360	01-Jan-2006
4000567528 1		185,000.00	184,321.94	11-May-2006	7.625%	IL - 62.50%	Paid Off - 360	01-Jan-2006
4000567730 1		320,000.00	320,000.00	01-May-2006	8.250%	FL - 80.00%	Paid Off - 360	01-Jan-2006
4000567807 2		235,600.00	235,599.99	15-May-2006	9.375%	SC - 95.00%	Paid Off - 360	01-Jan-2006
4000569139 1		176,000.00	176,000.00	25-May-2006	7.999%	CT - 80.00%	Paid Off - 360	01-Jan-2006
4000570602 2		328,000.00	328,000.00	19-May-2006	6.999%	GA - 80.00%	Paid Off - 360	01-Jan-2006
4000571552 2		310,500.00	309,442.21	18-May-2006	7.990%	IL - 90.00%	Paid Off - 360	01-Jan-2006
4000572837 1		76,000.00	75,721.48	02-May-2006	7.625%	WI - 80.00%	Paid Off - 360	01-Jan-2006
4000573739 1		93,000.00	92,675.78	23-May-2006	7.875%	NC - 62.42%	Paid Off - 360	01-Jan-2006
4000576631 2		147,150.00	146,697.90	24-May-2006	8.500%	IL - 90.00%	Paid Off - 360	01-Jan-2006
4000576906 2		46,500.00	46,371.04	18-May-2006	8.999%	CA - 11.54%	Paid Off - 360	01-Jan-2006
4000579444 2		120,000.00	119,371.61	23-May-2006	7.875%	CA - 32.88%	Paid Off - 360	01-Jan-2006
4000383552 1		79,600.00	79,599.88	7.500%	OH - 80.00%	Repur/Subs - 360	01-Oct-2005
4000434838 1		340,000.00	337,837.95	7.875%	MD - 80.00%	Repur/Subs - 360	01-Sep-2005
4000436999 1		36,000.00	35,835.92	8.250%	IN - 80.00%	Repur/Subs - 360	01-Nov-2005
4000494204 1		52,200.00	52,025.31	9.750%	IN - 90.00%	Repur/Subs - 360	01-Nov-2005
4000498463 1		42,000.00	41,814.72	7.625%	TN - 61.76%	Repur/Subs - 360	01-Dec-2005
4000512992 2		71,250.00	70,986.39	8.500%	OH - 95.00%	Repur/Subs - 360	01-Dec-2005
4000519814 2		816,000.00	816,000.00	6.875%	AZ - 80.00%	Repur/Subs - 360	01-Dec-2005
4000521396 2		428,250.00	428,250.00	7.999%	MD - 78.01%	Repur/Subs - 360	01-Dec-2005
4000524478 1		228,000.00	228,000.00	7.625%	MN - 80.00%	Repur/Subs - 360	01-Dec-2005
4000525303 1		49,600.00	49,600.00	7.125%	PA - 80.00%	Repur/Subs - 360	01-Dec-2005
4000528234 2		40,000.00	39,902.61	9.625%	IN - 80.00%	Repur/Subs - 360	01-Jan-2006
4000533826 2		180,150.00	180,150.00	6.750%	KY - 79.98%	Repur/Subs - 360	01-Dec-2005
4000534902 2		268,000.00	268,000.00	7.625%	GA - 80.00%	Repur/Subs - 360	01-Dec-2005
4000535588 2		73,800.00	73,583.59	9.625%	MI - 90.00%	Repur/Subs - 360	01-Dec-2005
4000535890 2		960,000.00	960,000.00	6.375%	MD - 80.00%	Repur/Subs - 360	01-Jan-2006
4000537876 2		382,500.00	382,499.71	7.999%	CA - 85.00%	Repur/Subs - 360	01-Jan-2006
4000538724 2		141,600.00	141,093.79	7.750%	MI - 80.00%	Repur/Subs - 360	01-Jan-2006
4000539065 1		384,000.00	384,000.00	8.750%	CA - 80.00%	Repur/Subs - 360	01-Dec-2005
4000541597 2		46,800.00	46,622.42	8.375%	IN - 90.00%	Repur/Subs - 360	01-Dec-2005
4000543205 1		35,200.00	35,066.39	8.375%	TN - 80.00%	Repur/Subs - 360	01-Dec-2005
4000543342 2		288,000.00	288,000.00	6.875%	CA - 80.00%	Repur/Subs - 360	01-Dec-2005
4000545465 2		316,800.00	315,609.66	7.500%	FL - 80.00%	Repur/Subs - 360	01-Jan-2006
4000546135 2		214,400.00	214,400.00	8.625%	CO - 80.00%	Repur/Subs - 360	01-Jan-2006
4000546135 2			214,400.00	8.625%	CO - 80.00%	Repur/Subs - 360

Page 20 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution


Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution


Loan Number	Original			Current	State &	Type Prepayment	First
Loan Number	Original			Current	State &	Type Prepayment	First
&	Loan	Principal	Prepayment		Prepayment	Note	LTV at	&	Payment
Loan Group	Status	Balance	Amount		Date	Rate	Origination	Original Term	Date

4000546736 2		640,000.00	640,000.00	7.500%	OH - 80.00%	Repur/Subs - 360	01-Jan-2006
4000546736 2		640,000.00	640,000.00	7.500%	OH - 80.00%	Repur/Subs - 360	01-Jan-2006
4000547109 1		95,600.00	95,222.57	7.250%	OH - 91.05%	Repur/Subs - 360	01-Jan-2006
4000549291 2		169,100.00	168,432.42	7.250%	UT - 79.99%	Repur/Subs - 360	01-Jan-2006
4000549809 1		125,520.00	125,520.00	7.375%	GA - 80.00%	Repur/Subs - 360	01-Dec-2005
4000551858 2		46,400.00	46,246.17	8.125%	TX - 80.00%	Repur/Subs - 360	01-Jan-2006
4000554163 2		37,600.00	37,501.00	9.250%	PA - 80.00%	Repur/Subs - 360	01-Jan-2006
4000555445 2		148,400.00	148,400.00	7.500%	GA - 79.98%	Repur/Subs - 360	01-Dec-2005
4000555821 2		111,396.00	111,062.39	8.625%	OH - 80.00%	Repur/Subs - 360	01-Jan-2006
4000556751 2		524,000.00	524,000.00	7.250%	CA - 80.00%	Repur/Subs - 360	01-Jan-2006
4000557302 2		234,000.00	233,098.71	7.375%	MD - 55.71%	Repur/Subs - 360	01-Jan-2006
4000558262 2		672,000.00	669,772.13	8.125%	AZ - 80.00%	Repur/Subs - 360	01-Jan-2006
4000558547 1		49,100.00	48,970.78	9.250%	IN - 87.68%	Repur/Subs - 360	01-Jan-2006
4000558591 1		46,400.00	46,400.00	7.250%	IN - 80.00%	Repur/Subs - 360	01-Jan-2006
4000559202 1		365,000.00	365,000.00	6.500%	CA - 58.40%	Repur/Subs - 360	01-Jan-2006
4000562516 2		368,000.00	366,953.12	8.875%	MA - 80.00%	Repur/Subs - 360	01-Jan-2006
4000562697 2		719,900.00	719,900.00	7.500%	CA - 80.00%	Repur/Subs - 360	01-Jan-2006
4000563493 1		266,000.00	265,072.63	7.875%	CO - 95.00%	Repur/Subs - 360	01-Jan-2006
4000565057 2		184,000.00	184,000.00	7.625%	FL - 80.00%	Repur/Subs - 360	01-Jan-2006
4000566589 2		662,400.00	662,400.00	7.750%	CA - 80.00%	Repur/Subs - 360	01-Jan-2006
4000570143 1		146,000.00	146,000.00	6.875%	WA - 80.00%	Repur/Subs - 360	01-Jan-2006
4000571420 1		132,000.00	132,000.00	7.500%	MN - 80.00%	Repur/Subs - 360	01-Jan-2006
4000573883 2		571,500.00	569,874.17	8.875%	CA - 90.00%	Repur/Subs - 360	01-Jan-2006
4000577267 2		249,500.00	249,500.00	8.000%	MD - 79.99%	Repur/Subs - 360	01-Jan-2006
4000581749 2		242,100.00	242,100.00	7.000%	OH - 79.98%	Repur/Subs - 360	01-Jan-2006
4000585188 2		269,050.00	269,050.00	8.625%	AZ - 94.99%	Repur/Subs - 360	01-Jan-2006
4000589400 2		525,600.00	525,600.00	7.875%	CO - 80.00%	Repur/Subs - 360	01-Jan-2006


TOTAL	27,958,556.00	27,921,496.30

Page 21 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Realized Loss Report

COLLATERAL REALIZED LOSSES



		Group 2	Group 1	Total


Current





Subsequent Recoveries	0.00	0.00	0.00
Number of Loans Liquidated	0	0	0
Collateral Principal Realized Loss/(Gain) Amount	0.00	0.00	0.00
Collateral Interest Realized Loss/(Gain) Amount	0.00	0.00	0.00
Net Liquidation Proceeds	0.00	0.00	0.00
Cumulative
Cumulative



Number of Loans Liquidated	0	0	0
Collateral Realized Loss/(Gain) Amount	0.00	0.00	0.00
Net Liquidation Proceeds	0.00	0.00	0.00
Cumulative Subsequent Recoveries	0.00	0.00	0.00

Page 22 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution


DEFAULT SPEEDS

	Group 2	Group 1	Total



MDR	0.00%	0.00%	0.00%
3 Months Avg MDR	0.00%	0.00%	0.00%
12 Months Avg MDR	0.00%	0.00%	0.00%
Avg MDR Since Cut-off	0.00%	0.00%	0.00%


CDR	0.00%	0.00%	0.00%
3 Months Avg CDR	0.00%	0.00%	0.00%
12 Months Avg CDR	0.00%	0.00%	0.00%
Avg CDR Since Cut-off	0.00%	0.00%	0.00%


SDA	0.00%	0.00%	0.00%
3 Months Avg SDA Approximation	0.00%	0.00%	0.00%
12 Months Avg SDA Approximation	0.00%	0.00%	0.00%
Avg SDA Since Cut-off Approximation	0.00%	0.00%	0.00%


Loss Severity Approximation for Current Period	0.00%	0.00%	0.00%
3 Months Avg Loss Severity Approximation	0.00%	0.00%	0.00%
12 Months Avg Loss Severity Approximation	0.00%	0.00%	0.00%
Avg Loss Severity Approximation Since Cut-off	0.00%	0.00%	0.00%

Page 23 of 28

FFMLT Trust 2006-FF3

Multifamily Mortgage Pass-Through Certificates

June 26, 2006 Distribution

COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY

Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)

Conditional Default Rate (CDR): 1-((1-MDR)^12)

SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))

Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)*(1-MDRn+1)*...*(1-MDRm)]^(1/months in period n,m)

Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

Average SDA Approximation over period between the nth month and mth month:

AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))

Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)

Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.

Dates correspond to distribution dates.

Page 24 of 28

FFMLT Trust 2006-FF3

Multifamily Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Realized Loss Detail Report

Loan Number

Current

State &

Prior

Realized

Cumulative

Loan

Note

LTV at

Original

Principal

Loss/(Gain)

Realized

Loan Group

Status

Rate

Origination

Term

Balance

Revision

Loss/(Gain)

TOTAL

Page 25 of 28

FFMLT Trust 2006-FF3

Multifamily Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Triggers and Adj. Cert. Report

TRIGGER EVENTS

Group 2

Group 1

Total

Does a Trigger Event Exist?

Has a Stepdown Date Occurred?

60+ Day Delinquency Balance (Incl all FC,REO and BK)

8,240,287.56

Stated Principal Balance

932,413,362.70

Delinquency Percentage

0.883759%

Offered Subordinate and X Class Certificate Balances

192,850,868.15

Stated Principal Balance

932,413,362.70

Senior Enhancement Percentage

20.682991%

Applicable Percentage

38.000000%

Cumulative Loss Percentage

0.00000000%

Cumulative Losses

0.00

Servicer Event of Default?

ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK

ADDITIONAL INFORMATION

Group 2

Group 1

Total

Current LIBOR Rate

5.081250%

Libor Rate Determination Date

05/23/2006

Next LIBOR Rate

0.000000%

Next Libor Rate Determination Date

06/22/2006

Current Swap LIBOR Rate

5.081250%

Page 26 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

		Next PTR	CarryOver Amts Unpaid	CarryOver Amts Paid
CLASS

	A-1	0.210%	0.00	0.00
		0.210%	0.00	0.00
	A-2A	0.080%	0.00	0.00
		0.080%	0.00	0.00
	A-2B	0.200%	0.00	0.00
		0.200%	0.00	0.00
	A-2C	0.290%	0.00	0.00
		0.290%	0.00	0.00
	M-1	0.380%	0.00	0.00
		0.380%	0.00	0.00
	M-2	0.390%	0.00	0.00
		0.390%	0.00	0.00
	M-3	0.410%	0.00	0.00
		0.410%	0.00	0.00
	M-4	0.540%	0.00	0.00
		0.540%	0.00	0.00
	M-5	0.570%	0.00	0.00
		0.570%	0.00	0.00
	M-6	0.650%	0.00	0.00
		0.650%	0.00	0.00
	M-7	1.200%	0.00	0.00
		1.200%	0.00	0.00
	M-8	1.350%	0.00	0.00
		1.350%	0.00	0.00
	M-9	1.850%	0.00	299.09
		1.850%	0.00	299.09
	B-1	2.250%	0.00	2,729.63
		2.250%	0.00	2,729.63
	B-2	2.250%	0.00	3,899.19
		2.250%	0.00	3,899.19
	X	0.000%	0.00	0.00
		0.000%	0.00	0.00
	P	0.000%	0.00	0.00
		0.000%	0.00	0.00
	R	0.000%	0.00	0.00
		0.000%	0.00	0.00
	RC	0.000%	0.00	0.00
		0.000%	0.00	0.00
	RX	0.000%	0.00	0.00
		0.000%	0.00	0.00
	C	0.000%	0.00	0.00
		0.000%	0.00	0.00




Page 27 of 28

FFMLT Trust 2006-FF3



Multifamily Mortgage Pass-Through Certificates
Multifamily Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
	Group 2	Group 1	Total
Current Scheduled Payments	4,212,873.82	1,922,971.13	6,135,844.95
Current Scheduled Payments 1 Month Prior	4,343,396.24	1,954,717.78	6,298,114.01
Current Scheduled Payments 2 Month Prior	4,411,358.11	1,969,972.87	6,381,330.99
Current Scheduled Payments 3 Month Prior	4,447,771.22	1,981,411.07	6,429,182.29
Current Scheduled Payments 4 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 5 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 6 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 7 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 8 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 9 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 10 Month Prior	0.00	0.00	0.00
Current Scheduled Payments 11 Month Prior	0.00	0.00	0.00





Sched. Payments for 60+Day Delinquent Loans	35,565.78	9,817.82	45,383.60
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior	59,840.03	9,603.65	69,443.68
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior	42,189.15	5,553.62	47,742.76
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior	5,692.80	1,915.67	7,608.47
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior	0.00	0.00	0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior	0.00	0.00	0.00





Page 28 of 28

FFMLT Trust 2006-FF3 10-D